DNMR - PepsiCo filing may confirm sale of Danimer Scientific stake

PepsiCo (PEP) appears to have sold an stake in green plastics company Danimer Scientific Inc. (DNMR), according to Pepsi's latest 10-Q filing. Pepsi said in a footnote in its 10-Q that is recorded an $82M after-tax gain on an investment in an unidentified publicly traded company. The gain was recorded in selling, general and administrative expenses within corporate unallocated expenses. Pepsi, which reportedly had a 6% stake in Danimer, said it subsequently sold all the shares during the second quarter.The disclosure in the 10-Q comes after a March 29 Danimer investor slide deck no longer referenced a Pepsi equity stake (says "strong partnerships with CPG Brands, including Pepsi ...) vs a slide deck from Feb. 3 (dated October 2020) that referenced an "equity investment from Pepsi."Danimer Scientific completed a SPAC combination with Live Oak Acquisition Corp. at the end of last year. Danimer shares have dropped 48% from a high of

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PepsiCo filing may confirm sale of Danimer Scientific stake