Marrone Bio Innovations, Inc. Announces Pricing of Its Common Stock Offering
April 25 2017 - 8:28AM
Business Wire
Marrone Bio Innovations, Inc. (NASDAQ:MBII or "the Company"),
today announced the pricing of its previously announced
underwritten public offering. The Company is offering 5,714,286
registered shares of its common stock, par value $0.00001 per
share, at a price to the public of $1.40 per share, resulting in
gross proceeds of approximately $8.0 million. In connection with
the offering, the Company has also granted the underwriter a 45-day
option to purchase up to an additional 857,143 shares of common
stock offered in the public offering to cover over-allotments, if
any. The Company intends to use the net proceeds from the offering
primarily to for general corporate purposes, which may include
operating expenses, working capital to improve and promote its
commercially available products, advance product candidates, expand
international presence and commercialization, and general capital
expenditures. The offering is expected to settle and close on
April 28, 2017, subject to the satisfaction or waiver of customary
closing conditions.
National Securities Corporation, a wholly owned subsidiary of
National Holdings Corporation (NasdaqCM:NHLD), is acting as sole
book-running manager for the offering.
The securities described above are being offered by the Company
pursuant to a "shelf" registration statement on Form S-3 (File No.
333-215024), including a base prospectus, previously filed with and
declared effective by the Securities and Exchange Commission (SEC)
on January 6, 2017. A preliminary prospectus supplement relating to
the offering has been filed with the SEC and is available on
the SEC’s website located at http://www.sec.gov. Copies of the
preliminary prospectus supplement and accompanying base prospectus
may be obtained by contacting the book-running manager at the
following address:
National Securities Corporation410 Park Ave, 14th FloorNew York,
NY 10022Attn: Marguerite RogersTelephone:
212-417-8227Email: prospectusrequest@nationalsecurities.com
A final prospectus supplement describing the terms of the
offering will be filed with the SEC. This press release does not
constitute an offer to sell or the solicitation of an offer to buy
any securities of Marrone Bio Innovations, Inc., and shall not
constitute an offer, solicitation or sale of any security in any
state or 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 jurisdiction.
About Marrone Bio Innovations, Inc.
Marrone Bio Innovations, Inc. (NASDAQ:MBII or "the Company")
strives to lead the movement to a more sustainable world through
the discovery, development and promotion of biological products for
pest management and plant health. The Company’s effective and
environmentally responsible solutions help customers operate more
sustainably while controlling pests, improving plant health, and
increasing crop yields. The Company has five products for
agriculture on the market (Regalia®, Grandevo®, Venerate®, and
Majestene® and Haven™), and also distributes Bio-tam 2.0® for
Isagro USA in the western U.S. The Company markets Zequanox® for
invasive mussels for water markets. Marrone also has a proprietary
discovery process, a rapid development platform, and a robust
pipeline of pest management and plant health product candidates. At
Marrone Bio Innovations, the Company is dedicated to pioneering
better biopesticides that support a better tomorrow for users
around the globe. For more information, please visit
www.marronebio.com.
Forward-Looking Statements
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Examples of such
statements include, but are not limited to, statements relating to
the completion of the offering, the grant of an over-allotment
option and use of proceed from the offering. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including any difficulty in
obtaining additional financing to meet the Company’s business
requirements and service its debt, difficulty in developing,
manufacturing, marketing or selling the Company’s products, any
failure to maintain and further establish relationships with
distributors and other partners, competition in the market for pest
management products, lack of understanding of bio-based pest
management products by customers and growers, adverse decisions by
regulatory agencies and other third parties and other factors
described in the “Risk Factors” section of the prospectus and the
Company’s most recent Annual Report on Form 10-K.. The Company
undertakes no duty to update any forward-looking statement made
herein. All forward-looking statements speak only as of the date of
this press release.
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Investor Relations:Marrone Bio Innovations,
Inc.James Palczynski, 203-682-8229
Marrone Bio Innovations (NASDAQ:MBII)
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