Yield10 Bioscience Announces Closing of $12.7 Million Public Offering
February 03 2021 - 12:15PM
Yield10 Bioscience, Inc. (Nasdaq: YTEN), an agricultural bioscience
company, today announced the closing of its previously announced
underwritten public offering of 1,040,000 shares of its common
stock at a public offering price of $12.25 per share. Gross
proceeds before deducting underwriting discounts and commissions
and other offering expenses are approximately $12.7 million.
Existing investors, including shareholder Jack W. Schuler, as well
as institutional and retail investors participated in the offering.
Maxim Group LLC acted as the sole book-running manager for the
public offering.
The public offering was made pursuant to an effective shelf
registration statement on Form S-3 that was filed with the U.S.
Securities and Exchange Commission (SEC) on April 1, 2020 and
declared effective on April 10, 2020. A final prospectus supplement
describing the terms of the public offering has been filed with the
SEC and will form a part of the effective registration statement.
Copies of the final prospectus supplement and accompanying
prospectus relating to the public offering may be obtained by
contacting Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New
York, NY 10174, or by telephone at (212) 895-3745.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or
jurisdiction.
About Yield10 Bioscience
Yield10 Bioscience, Inc. is an agricultural bioscience company
developing crop innovations aligned with trends in global food
security, social responsibility, and sustainability. The Company is
using its “Trait Factory,” a differentiated trait gene discovery
platform including the “GRAIN” big data mining trait gene discovery
tool as well as the Camelina oilseed “Fast Field Testing” system,
to develop improved Camelina varieties to produce proprietary
products, and to produce high value seed traits for the agriculture
and food industries. The Company’s goals are to efficiently develop
and commercialize a high value crop products business based on
superior varieties of Camelina for producing feedstock oils,
nutritional oils, and PHA bioplastics. As a path toward
commercialization of novel traits, Yield10 is pursuing a partnering
approach with major agricultural companies to drive new traits into
development for canola, soybean, corn, and other commercial crops.
Yield10 is headquartered in Woburn, MA and has an Oilseeds Center
of Excellence in Saskatoon, Canada.
For more information about the company, please visit
www.yield10bio.com, or follow the Company on Twitter, Facebook and
LinkedIn.
(YTEN-G)
Contacts: Yield10 Bioscience:Lynne H. Brum,
(617) 682-4693, LBrum@yield10bio.com
Investor Relations: Bret Shapiro, (561) 479-8566,
brets@coreir.comManaging Director, CORE IR
Media Inquiries: Eric Fischgrund, eric@fischtankpr.com FischTank
PR
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