Danimer Scientific Stock to Begin Trading on OTCQX
Danimer Scientific, a leading next-generation bioplastics company specializing in the development and production of biodegradable materials, recently announced significant developments concerning the trading of its common stock. The company disclosed that it had received notice from the New York Stock Exchange (NYSE) that trading of its common stock on the NYSE was suspended immediately and that the process to delist its common stock had begun.
This decision stems from the NYSE’s determination that Danimer Scientific failed to meet the continued listing standard, as outlined in Rule 802.01B of the NYSE Listed Company Manual. Specifically, the company did not maintain an average global market capitalization of at least $15 million over 30 consecutive trading days.
Implications of the NYSE Delisting
Danimer Scientific is currently evaluating whether to appeal the NYSE’s determination. Regardless of the appeal decision, the company has confirmed that it expects trading of its common stock to resume on the OTCQX market under its ticker symbol “DNMR” starting December 31, 2024. The transition to OTCQX does not impact Danimer’s business operations, which will continue uninterrupted. The company’s stock will remain listed on the NYSE while the appeal process, if pursued, and all applicable NYSE procedures are completed.
Danimer Scientific is a pioneer in sustainable and innovative solutions for plastic production. For over a decade, the company has been at the forefront of developing renewable and biodegradable biopolymers that contribute to a more sustainable future. These biopolymers are designed to decompose naturally, reducing the environmental impact of traditional plastics.
The applications of Danimer’s biopolymers span a wide range of products that people use daily. These include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles. By providing environmentally friendly alternatives, Danimer addresses critical issues related to plastic pollution and sustainability. The company holds an impressive portfolio of over 480 granted patents and pending patent applications across more than 20 countries, underscoring its leadership in manufacturing processes and biopolymer formulations.
For more detailed information about the company’s initiatives, products, and innovations, visit their official website at https://danimerscientific.com.
Transition to OTCQX
The OTCQX market provides a platform for established companies to trade their stocks with greater transparency and visibility. This transition offers Danimer an opportunity to continue engaging with investors while working toward regaining compliance with the NYSE’s listing standards. Trading on the OTCQX does not signify any change in the company’s core mission or its commitment to advancing sustainable bioplastics.
Forward-Looking Statements
This announcement includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements often contain terms such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” and other similar expressions that predict or indicate future events or trends. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied.
Risks and Uncertainties
Potential risks include, but are not limited to, the outcome of the appeal process regarding the NYSE’s decision, the successful transition of Danimer’s common stock to the OTCQX market, and the development of an active over-the-counter trading market. Additionally, the company faces challenges such as maintaining sufficient liquidity, meeting customer demand, expanding production facilities, and adhering to regulatory requirements. Broader factors, such as economic conditions, consumer preferences, and geopolitical conflicts, may also influence the company’s operations and financial performance.
The company is also subject to risks associated with intellectual property protection, supply chain disruptions, fluctuations in raw material prices, and adverse publicity. Moreover, changes in tax laws, tariffs, and other regulatory factors could have a material impact on Danimer’s business.
Commitment to Sustainability
Despite the challenges associated with the delisting process, Danimer remains steadfast in its mission to revolutionize the plastics industry with sustainable solutions. The company’s technology and products aim to address the global crisis of plastic waste, offering viable alternatives that align with consumer demand for environmentally responsible products.
By leveraging its extensive patent portfolio and proprietary technology, Danimer continues to innovate and expand its reach. The company is well-positioned to capitalize on growing market trends favoring sustainable materials and to drive long-term value for stakeholders.
The suspension of trading on the NYSE and the transition to the OTCQX market represent a pivotal moment for Danimer Scientific. While the delisting process may pose challenges, it does not diminish the company’s commitment to its mission or its ability to deliver innovative bioplastics solutions. As Danimer navigates this transition, it remains focused on advancing its sustainable initiatives and maintaining transparency with investors and stakeholders.
For more information and updates, stakeholders are encouraged to refer to the company’s filings with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
