Brief: Origin Materials To Combine With Artius

Origin Materials

17/02/2021 11:37

Feb 17 (Reuters) - Artius Acquisition Inc  AACQ.O :
    * PRESS RELEASE - ORIGIN MATERIALS, MARKET LEADER IN
DISRUPTIVE
MATERIALS TECHNOLOGY, TO COMBINE WITH ARTIUS, CREATING FIRST
PUBLICLY TRADED PURE PLAY CARBON NEGATIVE MATERIALS COMPANY
    * ARTIUS ACQUISITION INC - COMBINED COMPANY WILL BE LED BY
CO-FOUNDER AND CO-CEO JOHN BISSELL AND CO-CEO RICH RILEY
    * ARTIUS ACQUISITION INC - BUSINESS COMBINATION IS EXPECTED
TO
FULLY FUND ORIGIN UNTIL EBITDA POSITIVE
    * ARTIUS ACQUISITION INC - ALL ORIGIN STOCKHOLDERS WILL ROLL
100%
EQUITY HOLDINGS INTO NEW PUBLIC COMPANY
    * ARTIUS ACQUISITION INC - TRANSACTION IS EXPECTED TO
PROVIDE UP
TO $925 MILLION IN GROSS PROCEEDS
    * ARTIUS ACQUISITION - DEAL GROSS PROCEEDS COMPRISED OF
ARTIUS'
$725 MILLION OF CASH HELD IN TRUST, OVERSUBSCRIBED $200 MILLION
FULLY COMMITTED PIPE AT $10/SHARE
    * ARTIUS ACQUISITION - COMBINED CO EXPECTED TO HAVE
ESTIMATED
EQUITY VALUE OF ABOUT $1.8 BILLION AND WILL REMAIN LISTED ON
NASDAQ UNDER TICKER SYMBOL "ORGN"
    * ARTIUS ACQUISITION INC - DEAL SUBJECT TO A MINIMUM CASH
BALANCE
OF $525 MILLION IN ARTIUS AT CLOSING AFTER GIVING EFFECT TO ANY
SHAREHOLDER REDEMPTIONS

Source text for Eikon:  ID:nBw1PzNpYa 
Further company coverage:  AACQ.O 

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