Danimer Scientific, Inc.: going-concern / distress — Danimer Scientific files Chapter 11 with $400.8M debt, plans winddown and sale

The QLICI Loan and Security Agreement, dated August 23, 2022, by and between Meredian Bioplastics, Inc., as borrower, and HRV SUB-CDE 45, L.L.C., AMCREF FUND 76, LLC, ST CDE LXXXIII, LLC, and CDVCA 23, LLC, as lenders, as the same has been amended, supplemented or otherwise modified from time to time, and the approximately $24.7 million outstanding thereunder

LLC, as lender, and U.S. Bank Trust Company, National Association, as the same has been amended, supplemented or otherwise modified from time to time, and the approximately $128.6 million outstanding thereunder; • The Super Senior Secured Uninsured Promissory Note, dated as of December 17, 2024, by and among the Company, as issuer, certain of the Company’s

The Super Senior Secured Uninsured Promissory Note, dated as of December 17, 2024, by and among the Company, as issuer, certain of the Company’s subsidiaries, as guarantors, and Jefferies Capital Services, LLC, Riva Ridge Master Fund, Ltd. and BPI Credit 6, LLC, as payees, as the same has been amended, supplemented or otherwise modified from time to time, and the approximately $15.1 million outstanding thereunder

The Indenture, dated as of December 21, 2021, by and among the Company, as issuer, and U.S. Bank, National Association, as trustee, and the approximately $211.4 million in aggregate outstanding principal amount of 3.250% Convertible Senior Notes due 2026 issued thereunder

On March 18, 2025 (the “Petition Date”), Danimer Scientific, Inc. (the “Company”) and its subsidiaries (together with the Company, the “Debtors”) filed voluntary petitions to commence proceedings under chapter 11 (the “Chapter 11 Cases”) of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).