Yield10 Bioscience Announces Closing of $11.5 Million Equity Offering and Full Exercise of Over-allotment Option
November 19 2019 - 5:35PM
Yield10 Bioscience, Inc. (NASDAQ:YTEN) an agricultural bioscience
company which uses its “Trait Factory” to develop high value seed
traits for the agriculture and food industries, announced today the
closing of an equity offering, which consisted of an underwritten
public offering of units and a private placement of units for gross
proceeds of $11.5 million, which includes the full exercise of the
underwriter's over-allotment option to purchase additional shares
and warrants, prior to deducting underwriting discounts and
commissions and offering expenses payable by Yield10 Bioscience.
Both existing investors, including 40.1% shareholder Jack W.
Schuler, and new institutional investors participated in the
offering.
Ladenburg Thalmann & Co. Inc., a subsidiary of
Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), is sole
book-running manager and placement agent in connection with the
public offering and the private placement.
The securities were offered pursuant to a registration statement
on Form S-1 (File No. 333-233683), which was declared
effective by the United States Securities and Exchange Commission
(“SEC”) on November 14, 2019.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. A
final prospectus relating to the public offering was filed by
Yield10 Bioscience with the SEC. Copies of the final prospectus can
be obtained at the SEC’s website at www.sec.gov or from
Ladenburg Thalmann & Co. Inc., Prospectus Department, 277
Park Avenue, 26th Floor, New York, New York 10172, by calling
(212) 409-2000.
About
Yield10Yield10 Bioscience, Inc. is an
agricultural bioscience company which uses its “Trait Factory” to
develop high value seed traits for the agriculture and food
industries to achieve step-change improvements in crop yield to
enhance global food security and develop specialty crop products.
Yield10 has an extensive track record of innovation based around
optimizing the flow of carbon in living systems. Yield10 is
leveraging its “GRAIN” technology platform and unique knowledge
base to design precise alterations to gene activity and the flow of
carbon in plants to produce higher yields with lower inputs of
land, water or fertilizer. Yield10 is advancing several yield
traits it has developed in crops such as canola, soybean, rice,
wheat and corn. 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. (YTEN-G)
Contacts: Yield10
Bioscience:Lynne H. Brum, (617) 682-4693, LBrum@yield10bio.com
Investor Relations: Bret Shapiro, (516) 222-2560,
brets@coreir.comManaging Director, CORE IR
Media Inquiries: Eric Fischgrund, eric@fischtankpr.com FischTank
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