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  "documentTitle": "Danimer Scientific (DNMR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-04-22 00:00:00",
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  "notes": "The table uses a consistent 20% discount rate across all scenarios to highlight the impact of EBITDA and multiple assumptions.",
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      "text": "Spruce Point believes under a best-case scenario there is 50% downside for Danimer’s share price, and worse case the Company is a zero should it follow the fate of its PLA/PHA predecessors.",
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      "text": "Implied Share Price: $8.19",
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      "text": "Spruce Point believes under a best-case scenario there is 50% downside for Danimer's share price, and worse case the Company is a zero should it follow the fate of its PLA/PHA predecessors.",
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      "text": "Note: Market data as of 4/21/2021. Source: Spruce Point analysis, Analysts' estimates, DNMR investor presentation.",
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      "kind": "title",
      "text": "Highly Speculative, Unsustainable Valuation",
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