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Danimer Scientific Secures $11.25M Funding to Strengthen Capital Structure
Contract Type
partnership
Description
Danimer Scientific, Inc. has announced the issuance of a super senior secured promissory note in the aggregate principal amount of $11,250,000, aimed at enhancing the company's capital structure. The secured loan, with a two-year maturity and accruing interest at 15.0% per annum, is intended to provide liquidity and strengthen the company’s balance sheet as it remains focused on providing innovative biodegradable plastics alternatives to its customers.