secwatch.observer — SEC 8-K summary
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Issuer:     Danimer Scientific, Inc. (—)
CIK:        0001779020
Form:       8-K
Filed at:   2024-04-22T23:59:59+00:00
Accession:  0000950170-24-046460
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Danimer Scientific enters $20M asset-based credit facility with Mountain Ridge Capital
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- Revolving commitment of $20M; can be increased up to $25M in $2.5M increments.
- Interest rate is SOFR + 7.0% margin; monthly interest on 50% of borrowing base or outstanding principal.
- Maturity date is April 19, 2027, or earlier if term loan facility matures within 3 months.
- Borrowing base determined by accounts receivable and inventory; secured by those assets.
- Covenants include customary restrictions on indebtedness, dividends, and investments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1779020/000095017024046460/0000950170-24-046460-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1779020/000095017024046460/dnmr-20240419.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-046460

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