Codexis Announces Pricing of Public Offering of Common Stock
April 05 2018 - 09:15PM
Codexis, Inc. (Nasdaq:CDXS), a leading protein engineering company,
today announced the pricing of an underwritten public offering
of 3,750,000 shares of its common stock at a public offering
price of $9.25 per share. Net proceeds to Codexis from the offering
are expected to be approximately $32.3 million after underwriting
discounts and commissions and estimated offering expenses. The
offering is expected to close on or about April 10, 2018, subject
to customary closing conditions. Codexis has granted the
underwriters of the offering the right for a period of 30 days to
purchase up to an additional 562,500 shares of common stock at
the public offering price, less underwriting discounts and
commissions.
Jefferies LLC and Cowen and Company, LLC are acting as joint
book-running managers for the offering. H.C. Wainwright &
Co., LLC is acting as lead manager and Stephens Inc. is acting as
co-manager for the offering.
Codexis intends to use the net proceeds from the offering for
general corporate purposes, which may include, among other things,
supporting the development of its product candidates, funding
research and development, increasing its working capital and
capital expenditures.
A registration statement relating to these securities has been
filed with the U.S. Securities and Exchange Commission (SEC) and
became effective on January 10, 2017. The offering is being made
only by means of a written prospectus and prospectus supplement
that will form a part of the registration statement. A preliminary
prospectus supplement and the accompanying prospectus relating to
the offering have been filed with the SEC and are available on the
SEC’s website at www.sec.gov. A final prospectus supplement and
accompanying prospectus will be filed with the SEC. Copies of the
final prospectus supplement and the accompanying prospectus
relating to the offering may be obtained, when available, by
contacting Jefferies LLC, by mail at Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, or by email at
Prospectus_Department@Jefferies.com, or by telephone at (877)
821-7388; or Cowen and Company, LLC, by mail at Cowen and Company,
LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue,
Edgewood, NY 11717, Attention: Prospectus Department, or by
telephone at (631) 274-2806.
This press release shall not constitute an offer to sell or a
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 registration or
qualification under the securities laws of any such state or
jurisdiction.
About Codexis
Codexis is a leading protein engineering company that applies
its proprietary CodeEvolver® technology to develop proteins for a
variety of applications, including as biocatalysts for the
commercial manufacture of pharmaceuticals, fine chemicals and
industrial enzymes, and enzymes as biotherapeutics and for use in
molecular diagnostics. Codexis’ proven technology enables
improvements in protein performance meeting customer needs for
rapid, cost-effective and sustainable manufacturing in multiple
commercial scale implementations of biocatalytic processes.
Forward-Looking Statements
To the extent that statements contained in this press release
are not descriptions of historical facts regarding Codexis, they
are forward-looking statements reflecting the current beliefs and
expectations of management made pursuant to the safe harbor of the
Private Securities Litigation Reform Act of 1995, including
Codexis’ expected use of the proceeds of the public offering. Such
forward-looking statements involve substantial risks and
uncertainties that could cause Codexis’ future results, performance
or achievements to differ significantly from those expressed or
implied by the forward-looking statements. Such risks and
uncertainties include, among others, the uncertainties related to
market conditions and the completion of the public offering on the
anticipated terms or at all. Codexis undertakes no obligation to
update or revise any forward-looking statements. For a further
description of the risks and uncertainties that could cause actual
results to differ from those expressed in these forward-looking
statements, as well as risks relating to Codexis’ business in
general, please refer to Codexis’ prospectus supplement to be filed
with the SEC, including the documents incorporated by reference
therein, which include Codexis’ Annual Report on Form 10-K filed
with the SEC on March 15, 2018, and Codexis’ other periodic reports
filed with the SEC.
Codexis Contact: Gordon
SangsterChief Financial Officer(650)
421-8115gordon.sangster@codexis.com
Investor Relations Contact:LHA Investor
RelationsJody Cain(310) 691-7100 jcain@lhai.com
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