Amyris Secures Equity Financing Commitment
February 24 2015 - 4:02PM
Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company,
today announced that it entered into a Common Stock Purchase
Agreement (the "Purchase Agreement") under which Amyris may from
time to time sell up to $50 million of its common stock to Nomis
Bay Ltd. ("Nomis Bay") over a 24-month period.
"This facility provides us with a flexible source of common
stock financing as our business grows, allowing us to strategically
manage whether and when to draw on the facility based on market
dynamics and other considerations," said John Melo, President &
Chief Executive Officer of Amyris.
Key aspects of the Purchase Agreement and related agreements
include:
- Amyris will control the timing and amount of any sale of common
stock to Nomis Bay, and will know the sale price before instructing
Nomis Bay to purchase shares. When and if Amyris elects to use the
facility, the company will issue shares to Nomis Bay at a discount
to the volume weighted average price of Amyris's common stock over
a preceding period of trading days.
- Nomis Bay has no right to require sales by the company, but is
obligated to make purchases as the Company directs, in accordance
with the terms of the Purchase Agreement.
- The facility does not impose limitations on use of proceeds,
financial covenants, restrictions on future financings, rights of
first refusal, participation rights, penalties or liquidated
damages.
- No warrants were issued in conjunction with initiating this
facility.
Reedland Capital Partners, an Institutional Division of
Financial West Group, Member FINRA/SIPC, will act as placement
agent in connection with the financing. Additional details will be
provided in the regulatory filings associated with this
transaction.
The securities offered and sold in the private placement have
not been registered under the Securities Act of 1933, as amended,
or any state securities laws, and may not be offered or sold in the
United States absent registration, or an applicable exemption from
registration, under the Securities Act and applicable state
securities laws. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any securities nor
will there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction.
About Amyris
Amyris is a global renewable products company providing
sustainable alternatives to a variety of non-renewable resources.
Amyris uses its innovative bioscience technology to convert plant
sugars into hydrocarbon molecules. Amyris creates ingredients and
is commercializing its No Compromise® products in the flavors and
fragrances, cosmetics, specialty fluids, polymers, lubricants, and
fuels industries. Amyris Brasil Ltda., a subsidiary of Amyris,
oversees the establishment and expansion of Amyris's production in
Brazil. More information about Amyris is available at
www.amyris.com.
Forward-Looking Statements
This release contains forward-looking statements, and any
statements other than statements of historical facts could be
deemed to be forward-looking statements. These forward-looking
statements include, among other things, statements regarding future
events (such as future business growth and ability to raise
capital) that involve risks and uncertainties. These statements are
based on management's current expectations and actual results and
future events may differ materially due to risks and uncertainties,
including those associated with any delays or failures in
development, production and commercialization of products,
liquidity and ability to fund capital expenditures, Amyris's
reliance on third parties to achieve its goals, and other risks
detailed in the "Risk Factors" section of Amyris's quarterly report
on Form 10-Q filed on November 7, 2014. Amyris disclaims any
obligation to update information contained in these forward-looking
statements whether as a result of new information, future events,
or otherwise.
Amyris, the Amyris logo, and No Compromise are trademarks or
registered trademarks of Amyris, Inc. All other trademarks are the
property of their respective owners.
CONTACT: Amyris, Inc.
Investor Relations
+1 (510) 740-7481
investor@amyris.com
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