Danimer Scientific (DNMR) Receives NYSE Non-compliance Notice

Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the “Company”), 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 May 21, 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 consecutive trading days (“Minimum Price Standard”). The Notice does not result in the immediate delisting of the Company’s Common Stock from the NYSE.

On May 23, 2024, the Company notified the NYSE that it intends to cure the stock price deficiency and return to compliance with the NYSE’s Minimum 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 (“SEC”).

The Company intends to consider all available options to cure its non-compliance with the NYSE’s Minimum Price Standard. The Company can regain compliance with the Minimum Price Standard 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.

The Company notes that it previously received a notice of non-compliance with the NYSE’s Minimum Price Standard in January 2024 and that such non-compliance was cured on March 28, 2024 as disclosed in the Company’s Form 10-K filed with the SEC on March 29, 2024.

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