Deal sells 16,025,642 shares at $1.56 each with 10% warrant coverage
By Devika Patel
Knoxville, Tenn., July 27 – Amyris, Inc. settled a $25 million tranche of a private placement of stock on July 24, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 16,025,642 common shares at $1.56, which is identical to the July 23 closing share price.
Investors also will receive 10% warrant coverage, with each warrant exercisable at $0.01.
Foris Ventures, LLC has agreed to purchase 9,615,384 shares for $15 million; Total SA has agreed to purchase 1,282,051 shares for $2 million; and Naxyris SA has agreed to purchase 2,243,594 shares for $3.5 million. John Doerr will also participate.
Settlement of the final tranche is expected July 29.
The company also said it signed definitive agreements for the conversion and restructuring of about $175 million of debt, which will be converted to common stock.
Emeryville, Calif.-based Amyris is a maker of renewable chemicals and fuels.
| Issuer: | Amyris, Inc.
|
| Issue: | Common stock
|
| Amount: | $25 million
|
| Shares: | 16,025,642
|
| Price: | $1.56
|
| Warrants: | 10% coverage
|
| Warrant strike price: | $0.01
|
| Investors: | Foris Ventures, LLC (for $15 million), Total SA (for $2 million), Naxyris SA (for $3.5 million) and John Doerr
|
| Settlement dates: | July 24, July 29
|
| Stock symbol: | OTCBB: AMRS
|
| Stock price: | $1.56 at close July 23
|
| Market capitalization: | $123.08 million
|
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