Ranpak Holdings Corp. is a provider of environmentally sustainable, systems-based, product protection and end-of-line automation solutions for e-commerce and industrial supply chains. The Company’s paper-based protective packaging solutions (PPS) business utilizes a razor/razor-blade model where its proprietary PPS systems are provided to its distributors and certain select end-users for a nominal user fee, charged on a per-unit basis. Its paper packaging materials are fiber-based, biodegradable, renewable, and curb-side recyclable to customers. Its paper packaging materials contain little or no plastic or other resin-based inputs. The Company’s Void-Fill protective systems convert paper to fill empty spaces in secondary packages and protect objects, reducing object movement during shipping and potential damage sustained in transit. The Company serves end-users in approximately 57 countries across six continents.