Bolt Threads, Inc. (Nasdaq: BSLK), a leader in sustainable biomaterials for consumer products, has successfully completed its previously announced merger with Golden Arrow Merger Corp (Nasdaq: GAMC). The merger, approved by GAMC shareholders at a special meeting on August 9, 2024, results in the formation of a new entity, Bolt Projects Holdings Inc. The company’s common stock is set to begin trading on the Nasdaq Stock Market under the ticker symbol “BSLK” starting August 14, 2024. The newly formed company will be led by Bolt Threads’ Founder and CEO, Dan Widmaier.
Widmaier expressed enthusiasm for this new phase, stating, “We are excited to enter the public market as the leading biomaterials platform, with a focus on revolutionizing high-volume consumer goods industries through superior, nature-derived materials. We are grateful to our leadership team, employees, and partners for their support, and we believe Bolt Threads is well-positioned for substantial growth and value creation for all stakeholders.”
Jacob W. Doft, Chairman of Golden Arrow, added, “Bolt Threads offers a comprehensive solution of sustainable, nature-inspired alternatives that have the potential to transform a wide range of high-volume consumer products with biodegradable, non-toxic materials. We are eager to support Bolt Threads’ growth and establish a lasting partnership.”
Company Overview
Bolt Threads is a mission-driven biomaterials platform committed to creating a better future for both people and the planet. The company develops innovative, nature-inspired solutions and products that replace traditional ingredients and processes in high-volume consumer goods manufacturing. With 14 years of research and development, Bolt Threads holds a strong intellectual property portfolio, including 49 granted patents and 171 pending applications.
B-silk™, the company’s flagship product, is a fully biodegradable, non-toxic ingredient designed for the beauty and personal care industry. B-silk™ replaces silicone elastomers, which are synthetic ingredients that contribute to environmental pollution, including microplastics. Inspired by proteins found in spider webs, b-silk™ is both biobased and biodegradable. Since its launch in 2020, b-silk™ has been featured in products such as Vegamour and Kelly Slater’s Freaks of Nature sunscreen.
Advisors
BTIG, LLC served as financial advisor, and Latham & Watkins LLP acted as legal advisor to Bolt Threads. Greenberg Traurig, LLP provided legal counsel to Golden Arrow, while Ellenoff Grossman & Schole LLP served as legal advisor to BTIG, LLC.
