Amyris raises $37.2 million
Amyris Inc. (NASDAQ:AMRS) raised $37.2 million through the sale of shares at $2.98 in a private placement to existing investors Maxwell; Biolding Investment; Naxyris; Foris Ventures; Sualk Capital; TPG Biotechnology Partners; and Total Gas & Power USA. Amyris issued 14.2 million shares in the offering, a portion of which were issued to Total Gas & Power to cancel $5 million of a senior unsecured convertible promissory note. The price is an 8% premium to Amyris' close of $2.76 on Wednesday, before the offering was announced.
Earlier this year, Biolding committed to purchase $15 million in stock if Amyris met criteria associated with the commissioning of a production plant in Brazil by March 31, 2013. Amyris said it began production at the facility and expects sales in 1Q13. Biolding contributed $10 million in the private placement and has agreed to contribute the remaining $5 million no later than March 31, 2013, if Amyris meets criteria. ...