WEST SACRAMENTO, Calif. — Joshua C. Lee, General Counsel of Origin Materials, Inc. (NASDAQ:ORGN), has sold a total of 47,625 shares of the company’s common stock, according to a recent SEC filing. The transactions, executed on December 13, amounted to approximately $51,418.
The sales were conducted at weighted-average prices ranging from $1.065 to $1.11 per share. Specifically, 17,625 shares were sold at an average price of $1.0811, totaling $19,054, while another 30,000 shares were sold at an average price of $1.0788, totaling $32,364. InvestingPro data shows the stock has experienced significant price volatility, with a 52-week range of $0.44 to $1.90.
These transactions were made to cover tax withholding obligations related to the vesting and settlement of restricted stock units and the exercise of vested incentive stock options, as per a pre-established 10b5-1 plan. Following these sales, Lee retains ownership of 429,785 shares of Origin Materials. For deeper insights into Origin Materials' financial health and 8 additional ProTips, visit InvestingPro, where you'll find comprehensive analysis and expert research reports.
In other recent news, Origin Materials, Inc. announced in its Third Quarter 2024 Earnings Call that it is preparing to commence commercial production of its innovative PET caps. This follows a successful Factory Acceptance Test of its first CapFormer System. The company reported an increase in Q3 revenue to $8.2 million from $7.1 million year-over-year, with a solid cash position of $113 million. Commercial production is expected to begin in Q4 2024, and the company anticipates initial revenue from this venture in Q1 2025. Origin Materials plans to deploy at least eight CapFormer Systems by the end of 2025. The company also reported ongoing discussions for more business in caps and closures and is exploring strategic partnerships. Analysts from various firms have mentioned their expectations for significant growth from Origin Materials' caps and closures business beginning in 2025.
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