Ben Axler in-depth profile: looking behind the numbers

Ben Axler founded Spruce Point Capital Management in 2009, and since then, he has targeted a lot of companies he believed were making poor acquisition choices. One of his most recent targets is Danimer Scientific, a SPAC merger that another hedge fund has touted as "the Beyond Meat of plastic."

However, Axler said in a recent report that Danimer's SEC disclosures on revenue drivers are insufficient. He also said that newly released Freedom of Information Act information provides biopolymer production figures by location. His team found that Danimer's monthly PHA biopolymer and national gas usage for its Kentucky facility were materially misreported by 100% in some...