Solazyme, Inc. Closes Offerings of Common Stock and Convertible Senior Subordinated Notes
April 01 2014 - 4:15PM
Business Wire
Raises $212.8 million in Gross Proceeds,
Including Exercise in Full of Greenshoe Options
Solazyme, Inc. (NASDAQ:SZYM) announced today the closing of its
sale of 5,750,000 shares (the “Shares”) of its common stock, and
$149.5 million aggregate principal amount of 5.00% Convertible
Senior Subordinated Notes due 2019 (the “Notes” and together with
the Shares, the “Securities”), in each case pursuant to separate
public offerings of the Securities. The Securities include 750,000
Shares and $19.5 million aggregate principal amount of Notes sold
pursuant to the exercise in full of options granted to the
respective underwriters of the offerings.
Solazyme has received aggregate net proceeds from the sale of
the Securities of approximately $202.8 million, after deducting
underwriting discounts and commissions and estimated offering
expenses payable by Solazyme. Solazyme intends to use the net
proceeds for capital expenditures, working capital and general
corporate purposes.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall it
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale is unlawful.
About Solazyme, Inc.
Solazyme, Inc. (SZYM) is a renewable oil and bioproducts company
that transforms a growing range of abundant plant-based sugars into
high-value triglyceride oils and other bioproducts. Headquartered
in South San Francisco, Solazyme's renewable products can replace
or enhance oils derived from the world's three existing sources -
petroleum, plants and animal fats. Solazyme is commercializing its
primary products as either tailored oils, powdered oils, and
closely related products in the chemicals, fuels and food markets
or as branded consumer products.
Solazyme®, the Solazyme logo and other trademarks or service
names are trademarks of Solazyme, Inc.
Forward-Looking Statements
This press release includes forward-looking statements regarding
Solazyme's financing plans, including statements related to
Solazyme's intended use of the net proceeds from the sale of the
Securities. Such statements are subject to certain risks and
uncertainties including, without limitation, risks related to
market and other general economic conditions and the anticipated
use of the net proceeds from the sale of the Securities. Solazyme's
forward-looking statements also involve assumptions that, if they
never materialize or prove correct, could cause its results to
differ materially from those expressed or implied by such
forward-looking statements. Although Solazyme's forward-looking
statements reflect the good faith judgment of its management, these
statements are based only on facts and factors currently known by
Solazyme. As a result, you are cautioned not to rely on these
forward-looking statements.
Solazyme, Inc.Corporate Communications:Genet
Garamendipress@solazyme.comorBrainerd Communicators, Inc.Jeff
Majtyka, 212-986-6667majtyka@braincomm.comorMike Smargiassi,
212-986-6667smarg@braincomm.com