Danimer Scientific, INC 8-K filings

Danimer Scientific and its subsidiaries have filed for Chapter 11 bankruptcy to facilitate an orderly winddown and potential sale of assets.

Danimer Scientific amends its financing agreement to improve liquidity and extends its forbearance agreement to March 31, 2025.

Danimer Scientific received notices of default and acceleration on its Senior Secured Note and Term Loan, subsequently entering into a forbearance agreement to temporarily prevent enforcement actions.

Danimer Scientific's stock will be delisted from the NYSE due to not meeting market capitalization requirements and will begin trading on the OTCQX market.

Danimer Scientific secured an $11.25 million loan and restructured its debt after facing default notices on previous credit agreements.

Danimer Scientific has entered into retention agreements with its CFO, CMO, and Interim CEO, providing cash bonuses to ensure their continued service.

Danimer Scientific's Board of Directors has authorized an increase in the monthly cash compensation for Interim CEO Richard Altice from $25,000 to $50,000, effective December 8, 2024.

Danimer Scientific announced the resignation of director Cynthia Cohen, effective December 1, 2024, with no indication of disagreement with the company.

Danimer Scientific announced its third quarter 2024 financial results, highlighting a revenue decrease due to a customer reapportionment, while maintaining its full-year Adjusted EBITDA guidance and focusing on future growth.

Danimer Scientific has completed a 1-for-40 reverse stock split of its Class A common stock, effective November 12, 2024.

Danimer Scientific's stockholders have approved a reverse stock split proposal at a special meeting on October 23, 2024.

Danimer Scientific has announced the departure of its CEO, Stephen Croskrey, and the appointment of Richard Altice as Interim CEO, effective October 14, 2024.

Danimer Scientific reported a decrease in second quarter revenue compared to the previous year, but anticipates significant growth in PHA revenue by mid-2025 and has taken steps to deleverage its balance sheet.

Danimer Scientific has distributed warrants to purchase common stock to its shareholders, convertible note holders, and pre-funded warrant holders as of May 13, 2024.

Danimer Scientific's stockholders approved an increase in authorized Class A common stock shares from 200 million to 600 million at the annual meeting on July 9, 2024.

Danimer Scientific has received a notice from the NYSE for failing to maintain a minimum average share price of $1.00 over a 30-day period.

Danimer Scientific's CEO, Stephen Croskrey, will retire by the end of 2024, initiating a transition period with changes to leadership roles and board composition.

Danimer Scientific has implemented a new Executive Severance and Retention Plan, providing severance benefits to eligible executives upon certain terminations of employment.

Danimer Scientific's first quarter of 2024 saw a 64% year-over-year increase in PHA revenue, but overall revenue declined due to a decrease in PLA sales, while the company also announced a proposed warrant dividend transaction and secured additional financing.

Danimer Scientific plans to distribute warrants to shareholders and other eligible recipients, contingent on shareholder approval of an increase in authorized shares, and has set its annual meeting for July 9, 2024.

Danimer Scientific has entered into a $20 million asset-based credit agreement with a potential increase of up to $5 million, secured by accounts receivable and inventory.

Danimer Scientific announced its fourth quarter and full year 2023 financial results, showing a decrease in revenue but anticipating growth in 2024.

Danimer Scientific has successfully completed a registered direct offering, raising approximately $15 million through the sale of common stock and warrants.

Danimer Scientific reported preliminary fourth quarter and full year 2023 results, highlighting an 11% year-over-year increase in PHA revenue for the fourth quarter and projecting to be Adjusted EBITDA positive in early 2025.

Danimer Scientific has received a notice from the NYSE for non-compliance with listing standards due to its stock price falling below $1 for a sustained period.

Danimer Scientific has increased its board size to eleven members, appointing Dr. David J. Moody and Richard N. Altice as new directors.