Danimer Scientific Receives Continued Listing Standard Notice from NYSE

30 January 2024

Danimer Scientific, Inc., a leading, next-generation bioplastics company focused on the production of biodegradable materials, announced that it received a notice from the New York Stock Exchange (“NYSE”) on January 23, 2024, that the Company is not currently in compliance with the NYSE’s continued listing standard requiring listed-company stock to maintain an average closing price of not less than $1.00 per share over a period of thirty (30) consecutive trading days. The Notice does not result in the immediate delisting of the Company’s Common Stock from the NYSE.

On January 26, 2024, the Company notified the NYSE that it intends to cure the stock price deficiency and return to compliance with the NYSE’s minimum share price standard within the six-month period following receipt of the Notice. The Company’s Common Stock will continue to be listed and trade on the NYSE during this period, subject to its compliance with other NYSE continued listing standards. The receipt of the Notice does not affect the Company’s business, operations or reporting requirements with the Securities and Exchange Commission.

The Company intends to consider all available options to cure its non-compliance with the NYSE minimum share price standard. The Company can regain compliance with the minimum share price requirement at any time during the six-month cure period if, on the last trading day of any calendar month during the cure period or on the last day of the cure period, the Company has (i) a closing share price of at least $1.00, and (ii) an average closing share price of at least $1.00 over the 30 trading-day periods ending on the last trading day of that month.

About Danimer Scientific

Danimer is a pioneer in creating more sustainable, more natural ways to make plastic products. For more than a decade, its renewable and sustainable biopolymers have helped create plastic products that are biodegradable and compostable and return to nature instead of polluting our lands and waters. Danimer’s technology can be found in a vast array of plastic end products that people use every day. Applications for its biopolymers include additives, aqueous coatings, fibers, films and injection-molded articles, among others. Danimer holds more than 430 granted patents and pending patent applications in more than 20 countries for a range of manufacturing processes and biopolymer formulations. For more information, visit https://danimerscientific.com.

Contacts
Investors

Blake Chamblee
Phone: 770-337-6570
[email protected]

Media
Richard Ivey
Phone: 229-254-7688
[email protected]

 

Source: businesswire.com