TRUISM
2 weeks ago
10/5/23-Bolt Threads Plans To Go Public Via SPAC
By Laura Deppen
LINK
The announcement comes after the company struggled to raise funds for the production of its mushroom leather alternative.
Biomaterials maker Bolt Threads plans to become publicly traded through a special purpose acquisition company. Retrieved from Bolt Threads on October 05, 2023
Audio
Dive Brief:
* Biomaterials maker Bolt Threads plans to become publicly traded through a special purpose acquisition company, Bolt announced Wednesday in a press release.
* Bolt reached an agreement with Golden Arrow Merger Corp. The combined company will operate as Bolt Projects Holdings, Inc. and is expected to trade on the Nasdaq exchange as BSLK.
* The news comes after Bolt paused the production of its mushroom leather alternative, Mylo, after reportedly struggling to find funding. The material was used in Lululemon products, Stella McCartney and Adidas.
Dive Insight:
While Bolt faces competition in the leather alternative space from the likes of MycoWorks, which recently launched commercial-scale production of its mushroom-based material, it is leaning into its lead product b-silk, a biodegradable ingredient made from spider silk fibers in beauty and personal care products, which has been on the market since 2020. It also makes Microsilk, also made from spider silk fibers.
The transaction is expected to close in the first quarter of 2024. Dan Widmaier, Bolt Threads founder and CEO, will lead the combined company.
“Our mission remains steadfast to develop and provide better solutions for a way better world, and we believe that going public will allow us to grow our biomaterials platform and bring b-silk, among other products, to commercialization faster,” Widmaier said in the release. “Bringing low impact innovative materials to market is increasingly difficult and desperately needed.”
The deal is expected to generate $35 million in gross proceeds for the company. This creates an interim bridge financing of $6.8 million, and $5.5 million of which was funded toward the signing of the combination agreement, and $28.7 million in stock.
Founded in 2009, Bolt’s goal is to replace ingredients with more biodegradable options. It has 49 granted patents, and 171 pending patent applications, per the release.
TRUISM
2 weeks ago
10/22/24-Bolt Projects Holdings Announces More Brands Choosing B-Silk™ To Differentiate Their Product Offerings
Business Wire-Tue, October 22, 2024, 9:05 AM EDT
LINK
BERKELEY, Calif., October 22, 2024--(BUSINESS WIRE)--Over the past eighteen months, Bolt Projects Holdings [Nasdaq: BSLK] has undergone transformational change designed to accelerate penetration of its Vegan Silk Technology Platform into the beauty and personal care industry.
"This effort has been led by b-silk, a novel biodegradable, film-former polypeptide designed to offer additional functional benefits for haircare, skincare and color cosmetics," said Bolt Projects Holdings Chairman and CEO Dan Widmaier. "B-silk has been in the market since 2018 and has delivered consistent and proven consumer satisfaction."
During the third quarter of 2024, two new products featuring b-silk™ – the Daily Defender SPF30 and the Peak Performance SPF50 – from Freaks of Nature™ were introduced to the market, driving higher visibility and penetration in the sunscreen product type within skincare.
This launch adds to b-silk’s long-standing presence in the haircare segment since 2020 as part of Vegamour’s GRO Revitalizing Shampoo and Conditioner, powering their proprietary Karmatin™ offering. Vegamour’s success drove Bolt’s revenue growth for multiple years, resulting in 2023’s annual revenue of $3.4M, illustrating the building impact new customer launches can have.
Another launch featuring b-silk™ is expected as early as the first quarter of 2025. A cosmetics brand is slated to debut a color cosmetic product. "We see this product expansion as a testament to our cutting-edge Vegan Silk Technology Platform, showcasing its novel functionality," said Bolt Projects Holdings President Cintia Nardi. "This offering has the potential to set a new standard in the beauty industry and enable high-performance formulations in this product type. We are excited about the potential of this collaboration and the innovation it brings to the segment."
Bolt expects to share information about additional customer launches in the upcoming months and to showcase the potential of its Vegan Silk Technology Platform across many segments of the beauty and personal care industry. These launches will be supported in part by a second proprietary product from its Vegan Silk technology platform under the trade name xl-silk.
"Overall, we believe 2025 will be pivotal in demonstrating the impact of our innovative technology as it is unveiled by our customers’ new product launches," said Nardi. "This market innovation not only meets new and challenging regulatory rules around silicones but also targets consumers’ desire for efficacious products and more sustainable materials."
"We aspire to be the most desirable biotech ingredient innovator for the beauty and personal care industry," said Widmaier, "and so we will continue relentlessly pursuing market share because we believe that ‘the best days are ahead of us’ and we believe the future is one ‘Where Doing Good Will Help Us Do Well.’"
Bolt Projects Holdings will announce third quarter 2024 earnings on November 7, 2024 after market close.
TRUISM
2 weeks ago
10/17/24-BOLT PROJECTS HOLDINGS INC. (BSLK) SHARES RISE DESPITE MARKET CHALLENGES
BY Ethane Eddington
LINK
The stock price of Bolt Projects Holdings Inc. (NASDAQ: BSLK) has jumped by 14.73 compared to previous close of 0.49. Despite this, the company has seen a gain of 12.44% in its stock price over the last five trading days.
IS IT WORTH INVESTING IN BOLT PROJECT HOLDINGS INC. (NASDAQ: BSLK) RIGHT NOW?
BSLK has 36-month beta value of -0.17.
The average trading volume of BSLK on October 17, 2024 was 748.29K shares.
BSLK’S MARKET PERFORMANCE
BSLK’s stock has seen a 12.44% increase for the week, with a -51.11% drop in the past month and a -94.87% fall in the past quarter. The volatility ratio for the week is 22.06%, and the volatility levels for the past 30 days are at 13.42% for Bolt Projects Holdings Inc. The simple moving average for the past 20 days is -19.56% for BSLK’s stock, with a -93.45% simple moving average for the past 200 days.
BSLK TRADING AT -78.93% FROM THE 50-DAY MOVING AVERAGE
After a stumble in the market that brought BSLK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -96.70% of loss for the given period.
Volatility was left at 13.42%, however, over the last 30 days, the volatility rate increased by 22.06%, as shares sank -45.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -94.90% lower at present.
During the last 5 trading sessions, BSLK rose by +12.44%, which changed the moving average for the period of 200-days by -94.50% in comparison to the 20-day moving average, which settled at $0.6989. In addition, Bolt Projects Holdings Inc. saw -94.69% in overturn over a single year, with a tendency to cut further losses.
STOCK FUNDAMENTALS FOR BSLK
Equity return is now at value -0.96, with -24.18 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 0.02.
CONCLUSION
To put it simply, Bolt Projects Holdings Inc. (BSLK) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
TRUISM
3 weeks ago
AMSILK ANNOUNCES SUCCESSFUL PARTNERSHIP NEGOTIATION WITH AJINOMOTO FOR INDUSTRIAL FERMENTATION
OCTOBER 16, 2024
LINK
Neuried, Germany, 16 October 2024: AMSilk GmbH (“AMSilk/the Company”), a frontrunner in advanced biomaterials made from spider silk-based proteins, today announces that the Company and Ajinomoto Foods Europe (AFE), a company with over 50 years of experience in industrial fermentation, and the affiliate of the globally established Ajinomoto group, have expressed mutual interest to step into a long-term partnership to biomanufacture silk proteins at Ajinomoto Foods Europe’s manufacturing facility in Nesle, France.
AMSilk is forming a strategic collaboration with Ajinomoto, leveraging Ajinomoto’s extensive industrial expertise in precision fermentation and its strategically located site in France. The facility, in the vicinity of AMSilk’s key customers in the premium textile and consumer goods industries, is backwardly integrated with local raw materials and renewable energy, aligning perfectly with AMSilk’s commitment to sustainable business practices.
This partnership marks a significant step for AMSilk as it rapidly progresses towards becoming a commercial supplier of spider silk-based proteins. By harnessing Ajinomotos’s global fabrication capabilities and state-of-the-art facilities, AMSilk is well-positioned to achieve its commercial milestones and further its mission of delivering high-performance biotech materials on a large scale.
Hiroshi Kaneko, President Ajinomoto Foods Europe: “We are thrilled to partner with AMSilk and are committed to accelerating the market development of their innovative products by supporting their large-scale biomanufacturing efforts. Together, we aspire to create a substantial economic and social impact while driving global innovation forward.”
Ulrich Scherbel, Chief Executive Officer at AMSilk comments: “As a global player with longstanding expertise, Ajinomoto is an ideal production partner for us. Their premier fermentation capabilities in France enable us to meet the demands of our European customers by providing nearshored, high-quality materials.”
AMSilk provides disruptive material solutions to enable the world’s leading brands to address their carbon footprint. Its protein formulations do not contain any substances of animal origin or fossil-based raw materials and leave no microplastics behind. At the end of their life, they are verifiably biodegradable or recyclable. Being biofabricated, these materials can be tailored at a molecular level to specific markets or product requirements.
TRUISM
3 weeks ago
BSLK Stock Touches 52-Week Low At $0.56 Amid Market Challenges
Published 10/08/2024, 02:49 PM
LINK
In a turbulent market environment, BSLK stock has plummeted to a 52-week low, trading at $0.56. This significant downturn reflects a broader trend for the company, with Golden Arrow Merger's 1-year change showing a staggering decline of 94.65%.
Investors are closely monitoring the stock as it navigates through these challenging financial waters, with the hope for a potential rebound or stabilization in the future. The current price level marks a critical juncture for BSLK, as market participants consider the company's prospects and the potential impact of broader economic factors on its performance.
In other recent news, Bolt Projects Holdings, Inc. reported a series of substantial corporate developments. The company disclosed the completion of a notable agreement involving the acquisition of assets and changes in corporate governance. A key development was the business combination with Old Bolt, resulting in a merger that led to the issuance of new shares of Bolt’s common stock.
The company also announced the appointment of new directors and executive officers, including the election of several individuals to its board of directors and the naming of Daniel Widmaier as Chief Executive Officer. Additionally, Bolt Projects Holdings revealed a change in their independent registered public accounting firm following the business combination.
These recent developments are part of a strategic move that is expected to strengthen Bolt Projects Holdings' market position. The company's common stock and warrants have commenced trading on the Nasdaq, marking a significant milestone in the company's trajectory. These facts are based on a press release statement from the SEC filing.
TRUISM
3 weeks ago
(INITIAL INSIDER HOLDINGS REPORT) OF FILED (08/15/2024)
SEC.GOV
3 (Initial insider holdings report) 2024-08-15 2024-08-13 Nardi Cintia
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
3 (Initial insider holdings report) 2024-08-15 2024-08-13 Naffakh Sami Pascal
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
3 (Initial insider holdings report) 2024-08-15 2024-08-13 FIDDLER JERRY
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
3 (Initial insider holdings report) 2024-08-15 2024-08-13 Finard Jeri B
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
3 (Initial insider holdings report) 2024-08-15 2024-08-13 Carpio Ransley Keoni
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
3 (Initial insider holdings report) 2024-08-15 2024-08-13 Steefel Daniel Patrick
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2024-08-13 KLOSK STEVEN M
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2024-08-13 Barth Brett H
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2024-08-13 Dean Lloyd H
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2024-08-13 Breslauer David Nate
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2023-03-16 Doft Jacob
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2023-03-16 Hirt Lance L.
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4/A (Insider trading report) 2024-08-21 2023-03-16 Golden Arrow Sponsor, LLC
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
3 (Initial insider holdings report) 2024-08-15 2024-08-13 Befumo Randy
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
3 (Initial insider holdings report) 2024-08-15 2024-08-13 Slattery Paul Joseph
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
3 (Initial insider holdings report) 2024-08-15 2024-08-13 Breslauer David Nate
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2024-08-13 FIDDLER JERRY
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2023-03-16 Golden Arrow Sponsor, LLC
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2023-03-16 Babich Timothy C
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
3 (Initial insider holdings report) 2024-08-15 2024-08-13 van den Boom Esther
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
3 (Initial insider holdings report) 2024-08-15 2024-08-13 Widmaier Daniel Matthew
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2024-08-13 Widmaier Daniel Matthew
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
8-K (Current report) 2024-08-19 2024-08-13 Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2024-08-13 Nardi Cintia
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2024-08-13 HIDARY JACK
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2024-08-13 Befumo Randy
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
4 (Insider trading report) 2024-08-15 2023-03-16 RECHTSCHAFFEN ANDREW
Bolt Projects Holdings, Inc. (BSLK, BSLKW)
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