Amyris planning $60 million note deal
Amyris Inc. (NASDAQ:AMRS) plans to raise up to $60 million through the sale of senior convertible promissory notes in a tranched private placement to existing investor Temasek. Amyris will raise $35 million in the first tranche, which is subject to shareholder approval at a meeting in September. The second $25 million tranche is subject to shareholder approval as well as meeting production and operational metrics associated with a production facility in Brazil.
Amyris uses synthetic biology to produce fuels and chemicals. The company, which raised $84.8 million in an IPO in September 2010, is partnered with Sanofi (Euronext:SAN; NYSE:SNY) and the Institute for OneWorld Health to develop and produce semisynthetic artemisinin, an anti-malarial, using Amyris' technology. ...