Origin Materials plans to sell technology, wind down operations
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Origin Materials (ORGN) plans to sell its PET cap technology and other assets, leading to an orderly wind down of operations. The board approved dissolution and liquidation, pending shareholder approval. A special meeting will be called for this purpose. Following a workforce reduction, CEO John Bissell will depart, with CFO Matt Plavan as interim CEO. The company will estimate potential shareholder distributions, which may vary significantly from actual amounts.
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