Certain funds managed by affiliates of Apollo
Global Management to invest up to $30 million in Artius Acquisition
in support of its previously announced merger with Origin
Materials
Artius Acquisition Inc. (“Artius”) (NASDAQ: AACQ, AACQU, AACQW)
today announced that certain funds (the “Apollo Funds”) managed by
affiliates of Apollo Global Management, Inc. (“Apollo”) (NYSE: APO)
have agreed to invest up to $30 million in Artius in support of its
previously announced business combination with Origin Materials
(“Origin Materials”).
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210615005650/en/
“Origin Materials has developed a breakthrough, game changing
technology that is poised to disrupt the materials supply chain and
help companies globally achieve their net zero goals,” said Boon
Sim, Chief Executive Officer of Artius Acquisition. “Origin’s
carbon negative materials platform is supported by their customers
– and now the focus is on scaling their technology to meeting
growing global demand across a range of end product markets. This
capital from the Apollo Funds combined with the pending completion
of our merger with Origin is expected to provide the funding
necessary to rapidly increase the supply of carbon negative
materials and accelerate the global transition to net zero.”
“We view the investment by Apollo as a major vote of confidence
in Origin’s business model and growth plans. We are thrilled for
Apollo to be joining us on our journey to bring the world to net
zero as fast as possible and look forward to their support as
shareholders,” said Rich Riley, Co-CEO of Origin Materials.
The Apollo Funds have agreed to invest up to $30 million in
Artius by agreeing to purchase up to 3 million common shares at $10
per share at closing to support the global scale-up of Origin
Materials’ carbon negative technology platform and to accelerate
the impact of the decarbonization globally. Under a back-stop
agreement with Artius, Apollo has agreed to purchase up to 3
million common shares of Artius at closing of the transaction in a
private placement, with the amount of the total investment to be
determined by Artius based on, among other things, the number of
Artius share redemptions.
“There’s growing global demand from companies for more
sustainable materials, and we are pleased for our funds to support
the business combination between Origin Materials and Artius to
help the company meet this demand and move toward a decarbonized
world,” said Rob Givone, Credit Partner at Apollo.
Origin Materials’ patented technology platform, which turns
inexpensive, plentiful and sustainable wood residues into
carbon-negative materials, can help revolutionize the production of
a wide range of end products, including clothing, textiles,
plastics, packaging, car parts, tires, carpeting, toys, and more
with a ~$1 trillion addressable market. In addition, Origin
Materials’ technology platform is expected to provide stable
pricing largely decoupled from the petroleum supply chain, which is
exposed to more volatility than supply chains based on sustainable
wood residues.
About Origin Materials
Headquartered in West Sacramento, Origin Materials is the
world's leading carbon negative materials company. Origin
Materials’ mission is to enable the world’s transition to
sustainable materials. Over the past 10 years, Origin Materials has
developed a platform for turning the carbon found in non-food
biomass into useful materials, while capturing carbon in the
process. Origin Materials’ patented drop-in core technology,
economics and carbon impact are supported by a growing list of
major global customers and investors. Origin Materials’ first
commercial plant is expected to be operational in 2022 with a
second commercial plant expected to be operational by 2025 and
plans for additional expansion over the next decade.
On February 17, 2021, Origin Materials and Artius announced a
definitive agreement for a business combination that is expected to
result in Origin Materials becoming a public company. Upon closing
of the transaction, expected in the second quarter of 2021, the
combined company will be named “Origin Materials, Inc.” and remain
listed on the Nasdaq under the new ticker symbol “ORGN.” The
transaction, together with anticipated financing and grants, is
expected to fully fund Origin Materials until EBITDA positive, and
allow Origin Materials to scale and commence commercial production
to begin to meet signed customer offtake and capacity reservations
of $1.9 billion across a diverse range of industries.
For more information, visit www.originmaterials.com.
About Artius Acquisition Inc.
Artius is a special purpose acquisition company formed for the
purpose of effecting a merger, share exchange, asset acquisition,
share purchase, reorganization or similar business combination with
one or more businesses. Artius was co-founded by Charles Drucker,
the former CEO of WorldPay, Inc., a leading payments company, and
its predecessor company, Vantiv. Inc., and Boon Sim, the Founder
and Managing Partner of Artius Capital Partners LLC.
For more information, visit
https://www.artiuscapital.com/acquisition.
About Apollo Global Management
Apollo is a high-growth, global alternative asset manager. We
seek to provide our clients excess return at every point along the
risk-reward spectrum from investment grade to private equity with a
focus on three business strategies: yield, hybrid and
opportunistic. Through our investment activity across our fully
integrated platform, we serve the retirement income and financial
return needs of our clients, and we offer innovative capital
solutions to businesses. Our patient, creative, knowledgeable
approach to investing aligns our clients, businesses we invest in,
our employees and the communities we impact, to expand opportunity
and achieve positive outcomes. As of March 31, 2021, Apollo had
approximately $461 billion of assets under management. To learn
more, please visit www.apollo.com.
Important Information for Investors and Shareholders
In connection with the proposed business combination
transaction, Artius filed an amended registration statement on Form
S-4 (the “Registration Statement”) with the SEC on May 3, 2021,
which includes a proxy statement distributed to holders of Artius’
ordinary shares in connection with Artius’ solicitation of proxies
for the vote by Artius’ shareholders with respect to the proposed
transaction and other matters as described in the Registration
Statement, as well as the prospectus relating to the offer of
securities to be issued to Artius’ shareholders and Origin
Materials’ stockholders in connection with the proposed
transaction. The Registration Statement was declared effective on
May 27, 2021, and the definitive proxy statement/prospectus and
other proxy materials were mailed on or about June 1, 2021 to
Artius’ shareholders of record as of May 19, 2021. Investors and
security holders and other interested parties are urged to read the
definitive proxy statement/prospectus, any amendments thereto and
any other documents filed with the SEC carefully and in their
entirety when they become available because they will contain
important information about Artius, Origin Materials and the
proposed transaction. The documents relating to the proposed
transaction can be obtained free of charge from the SEC’s website
at www.sec.gov. Free copies of these documents may also be obtained
from Artius by directing a request to: Artius Management LLC, 3
Columbus Circle, Suite 2215, New York, New York 10019.
Cautionary Note on Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws, including with
respect to the proposed transaction between Origin Materials and
Artius. Forward-looking statements generally are accompanied by
words such as “believe,” “may,” “will,” “estimate,” “continue,”
“anticipate,” “intend,” “expect,” “should,” “would,” “plan,”
“predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding Origin Materials’ business strategy, estimated
total addressable market, commercial and operating plans, product
development plans and projected financial information. These
statements are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of the management of Origin Materials and are not predictions of
actual performance. These forward-looking statements are provided
for illustrative purposes only and are not intended to serve as,
and must not be relied on as, a guarantee, an assurance, a
prediction, or a definitive statement of fact or probability.
Actual events and circumstances are difficult or impossible to
predict and will differ from assumptions. Many actual events and
circumstances are beyond the control of Origin Materials and
Artius. These forward-looking statements are subject to a number of
risks and uncertainties, including that Origin Materials may be
unable to successfully commercialize its products; the effects of
competition on Origin Materials’ business; the uncertainty of the
projected financial information with respect to Origin Materials;
disruptions and other impacts to Origin Materials’ business as a
result of the COVID-19 pandemic and other global health or economic
crises; changes in customer demand; Origin Materials and Artius may
be unable to successfully or timely consummate the proposed
business combination, including the risk that any regulatory
approvals may not obtained, may be delayed or may be subject to
unanticipated conditions that could adversely affect the combined
company or the expected benefits of the business combination, or
that the approval of the shareholders of Artius or stockholders of
Origin Materials may not be obtained; failure to realize the
anticipated benefits of the business combination; the amount of
redemption requests made by Artius’ shareholders, and those factors
discussed in the Registration Statement under the heading “Risk
Factors,” and other documents Artius has filed, or will file, with
the SEC. If any of these risks materialize or our assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements. There may be
additional risks that Artius and Origin Materials presently do not
know, or that Artius and Origin Materials currently believe are
immaterial, that could also cause actual results to differ from
those contained in the forward-looking statements. In addition,
forward-looking statements reflect Artius’ and Origin Materials’
expectations, plans, or forecasts of future events and views as of
the date of this press release. Artius and Origin Materials
anticipate that subsequent events and developments will cause its
assessments to change. However, while Artius and Origin Materials
may elect to update these forward-looking statements at some point
in the future, Artius and Origin Materials specifically disclaim
any obligation to do so. These forward-looking statements should
not be relied upon as representing Artius’ and Origin Materials’
assessments of any date subsequent to the date of this press
release. Accordingly, undue reliance should not be placed upon the
forward-looking statements.
Participants in the Solicitation
Artius, Origin Materials and their respective directors,
executive officers and employees and other persons may be deemed to
be participants in the solicitation of proxies from Artius’
shareholders in connection with the proposed business combination.
Information about Artius’ directors and executive officers and
their ownership of Artius’ securities is set forth in the
Registration Statement described above. Additional information
regarding the interests of those persons who may be deemed
participants in the solicitation of proxies in connection with the
proposed transaction is set forth in the definitive proxy
statement/prospectus.
Non-Solicitation
This communication is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the potential transaction and shall not constitute an
offer to sell or a solicitation of an offer to buy the securities
of Artius, the combined company or Origin Materials, nor shall
there be any sale of any such securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. No offer of
securities shall be made except by means of a prospectus meeting
the requirements of the Securities Act of 1933, as amended.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210615005650/en/
Origin Materials Investors: ir@originmaterials.com
Media: media@originmaterials.com
Artius Investors: Jason Ozone jason@artiuscapital.com
+1-212-309-7668
Apollo Global Management Investors:
APOInvestorRelations@apollo.com
Media: communications@apollo.com
Artius Acquisition (NASDAQ:AACQU)
Historical Stock Chart
From Oct 2024 to Nov 2024
Artius Acquisition (NASDAQ:AACQU)
Historical Stock Chart
From Nov 2023 to Nov 2024
