05:38 PM EDT, 03/25/2024 (MT Newswires) -- Danimer Scientific ( DNMR ) said Monday raised $15 million from a registered direct offering of shares and accompanying warrants.

The company sold 15 million shares at $1 per share and accompanying warrant to purchase up to 15 million shares at an exercise price of $1.33 per share six months after they are issued. The warrants will expire after five and half years from the date of offering, according to Danimer.

The company said it plans to use the proceeds for working capital and general corporate purposes.

Danimer shares were up almost 3% in recent after-hours activity.

Price: 1.11, Change: +0.03, Percent Change: +2.78