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Item 1.02
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Termination of a Material Definitive Agreement.
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On January 29, 2021, pursuant
to a Termination Agreement, dated as of January 29, 2021 (the “Termination Agreement”), by and among White Oak Global
Advisors, LLC, a Delaware limited liability company (“White Oak”), Danimer Scientific Holdings, LLC, a Delaware limited
liability company (“DSH”), Meredian, Inc., a Georgia corporation (“Meredian”), Meredian Bioplastics, Inc.,
a Georgia corporation (“MBI”), Danimer Scientific, L.L.C., a Georgia limited liability company (“DSLLLC”),
Danimer Bioplastics, Inc., a Georgia corporation (“DBI”), Danimer Scientific Kentucky, Inc., a Delaware corporation
(“DSK”), and Meredian Holdings Group, Inc., a Delaware corporation (“MHG”), that certain Loan and Security
Agreement, dated as of March 13, 2019 (as amended, modified, supplemented, renewed or extended from time to time (the “Loan
Agreement”), among DSH, Meredian, MBI, DSLLC, DBI and DSK, as borrowers, MHG, as guarantor, the lenders party thereto from
time to time and White Oak, as administrative agent, was paid off and terminated and the liens and security interests in the assets
of the borrowers and the guarantor were terminated and released.
The Loan Agreement had
provided for term loans in the aggregate initial principal amount of $30,000,000 with an original maturity date of October 13,
2023. The aggregate payoff amount under the Termination Agreement was $27,771,497.31.
The foregoing description of the Termination
Agreement is qualified in its entirety by the full text of the Termination Agreement, a copy of which is attached hereto as Exhibit
10.1 and incorporated herein by reference.