Danimer Scientific (DNMR) Announces 1:40 Reverse Share Split

Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or “Company”), a leading, next-generation biotechnology company focused on the production of biomaterials, announced today that, following approval by the Company’s stockholders and its Board of Directors, the Company will effect a reverse stock split (“Reverse Stock Split”) of Danimer’s Class A common stock, par value $0.0001 per share (“Common Stock”), at a ratio of 1-for-40 (the “Reverse Stock Split Ratio”), which ratio was determined by the Board of Directors from within a range of ratios authorized by the stockholders. The Reverse Stock Split is expected to become effective on November 12, 2024, after close of trading on the New York Stock Exchange (“NYSE”). The Common Stock is expected to begin trading on a split-adjusted basis when the markets open on November 13, 2024, under the existing trading symbol “DNMR” and new CUSIP number (236272 407).

The Company believes the Reverse Stock Split will increase the price per share of the Common Stock and thus enable it to regain compliance with the price criteria of Section 802.01C of the NYSE Listed Company Manual (the “Minimum Share Price Rule”).

Upon the effectiveness of the Reverse Stock Split, every 40 shares of the Company’s issued and outstanding Common Stock will be automatically converted into one share of issued and outstanding Common Stock. No fractional shares will be issued as a result of the Reverse Stock Split. Instead, stockholders who otherwise would be entitled to receive fractional shares of Common Stock will be entitled to receive the equivalent value of such fractional shares in cash. The Company does not anticipate that the aggregate cash amount it will pay in respect of fractional interests will be material. The Reverse Stock Split affects all stockholders uniformly and will not alter any stockholder’s percentage interest in the Company’s outstanding Common Stock, except for any such adjustments that may result from the treatment of fractional shares.

Proportionate adjustments will be made to the number of shares of Common Stock underlying the Company’s outstanding equity awards and warrants, and the number of shares issuable under its equity incentive plans and other existing agreements, as well as the exercise price or conversion price, as applicable, of the Company’s outstanding equity awards, warrants and convertible notes. The Company’s warrants listed on the OTCQX market under the symbol “DNMRW” will continue to trade on that market using that symbol and the existing CUSIP. The Reverse Stock Split will not decrease the number of authorized shares of Common Stock and will not affect the par value of the Common Stock.

Continental Stock Transfer and Trust Company will serve as the exchange agent for the Reverse Stock Split. Registered stockholders holding shares of Common Stock electronically in book-entry form are not required to take any action. Those stockholders who hold their shares in brokerage accounts or in “street name” will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to each brokers’ particular processes, and will not be required to take any action in connection with the Reverse Stock Split.

Additional information about the Reverse Stock Split can be found in Danimer’s definitive proxy statement filed with the SEC on September 23, 2024, which is available free of charge at the SEC’s website, www.sec.gov, and on Danimer’s Investor Relations website at https://ir.danimerscientific.com/

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