Origin Materials Subsidiary Secures Over 11 Million Dollar Equipment Financing from Starlinger

Reuters10-09
Origin Materials Subsidiary Secures Over 11 Million Dollar Equipment Financing from Starlinger

Origin Materials Inc. announced that its wholly-owned subsidiary, Origin Closures, LLC, has entered into a secured promissory note with Starlinger & Co Gesellschaft m.b.H. to finance the purchase of equipment for producing polyethylene terephthalate (PET) sheet. The agreement involves a principal amount of €9,476,157.60 (approximately $11.2 million), with interest accruing at 10.56% per annum. Repayment will occur in semi-annual installments beginning in April 2026 and concluding in October 2029. The loan is secured by the equipment being financed and may be prepaid at any time without penalty. In the event of default, Starlinger retains the right to accelerate repayment, seize collateral, or take control of relevant property.

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