- Scientific Danimer (NYSE:DNMR) said it has entered into agreements to buy and sell 15 million shares of its stock in a direct offering at a purchase price of $1.00 per share for gross proceeds of $15 million.
- The agreements also provide for the release of warrants the purchase of up to an aggregate of 15 million shares of common stock in a registered direct offering.
- The company added that the warrants will have an exercise price of $1.33 per share, exercisable beginning six months from the date of issuance, and will expire five and a half years from the date of issuance.
- The closing of the offering is expected to occur on or about March 25, 2024.
- The company said it intends to use the net proceeds from the offering for working capital and general corporate purposes.
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