The debt includes a new $3.15 billion first-lien term loan, maturing in 2029, and $1 billion in first-lien notes, maturing in 2031.
The brokerage praised the company’s “differentiated” AI-driven technology and its roadmap to achieve net profit positivity by the end of 2027.
Richard N. Altice, Interim CEO of Danimer, said the company is focused on preserving liquidity and looking at a “variety of transactions” to strengthen its capital structure.
Maxeon, along with its peers in the renewable energy space, has faced heavy selling pressure since the recent U.S. election.