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re: Diving Deeper on Origin Materials?
Posted on 1/3/23 at 4:09 pm to Good Ole Baw
Posted on 1/3/23 at 4:09 pm to Good Ole Baw
Company Info:
From the other thread:
Also:
quote:
Micromidas, Inc., doing business as Origin Materials, produces and commercializes plant-based PET plastic. It develops a platform for turning the carbon found in biomass into useful materials, while capturing carbon in the process. The company serves tire filler, carbon black, agriculture, and activated carbon markets. Micromidas, Inc. has a strategic alliance with Palantir Technologies Inc. The company was incorporated in 2008 and is based in West Sacramento, California with a facility in Sarnia, Canada.
From the other thread:
quote:
The management team has a ~25M share earnout that would vest if ORGN trades above $15/share for a certain period of time before June '24 (and $20 by June '25 and $25 by June '26). Clock is ticking for them to more than triple the stock price to hit that earnout, hoping we start to get upward movement soon as the O1 plant goes online.
Also:
quote:
CEO John Bissell sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $4.58, for a total transaction of $687,000.00. Following the sale, the chief executive officer now directly owns 1,215,828 shares in the company, valued at approximately $5,568,492.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission
This post was edited on 1/3/23 at 4:12 pm
2
Posted on 1/3/23 at 4:40 pm to Richard Grayson
Oh no. Was this a SPAC? Run away!
Posted on 1/6/23 at 8:13 am to Richard Grayson
If you look at the S-4 form for that sale, it was a preplanned tax sale. Management here is not independently wealthy so they are selling off the portion of granted shares that vest that is necessary to pay off tax liabilities that are generated. Most of them don't have the capital on their own to pay those taxes. So on net the management shares are increasing (as net share vested is still going up even after pre planned tax sales) so they have more skin in the game.
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