EMERYVILLE, Calif., April 29, 2019 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), a leader in the development and production of sustainable ingredients for the Health & Wellness, Clean Beauty and Flavors & Fragrances markets, today announced the majority closing of, in total, a $34 million private placement of its common stock and warrants to purchase common stock with accredited investors with most funds received and the remainder to be received this week. The financing was anchored by long-term investors in the company.
The financing was provided by investors such as Foris Ventures, an entity affiliated with Amyris board member John Doerr (of Kleiner Perkins Caufield & Byers), Dr. Wei-wu He, General Partner of Emerging Technology Partners, LLC (ETP), a life sciences-focused venture fund, and others.
“Our long-term investors continue to be encouraged by the performance of our products and technology. We believe they see our capabilities as being essential in disrupting large global markets by delivering the best products to meet consumer needs for natural and sustainable skin care, sweeteners and soon with highest quality and purity CBD,” said John Melo, Amyris President and CEO. “These funds support our plan to retire our May debt maturity and to continue growing our business.”
Terms of the private placement will be more fully disclosed in a Form 8-K to be filed later this week with the Securities and Exchange Commission, available free of charge at sec.gov.
About Amyris
Amyris is the integrated renewable products company that is enabling the world’s leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules and produce specialty ingredients and consumer products. The company is delivering its No Compromise™ products and services across a number of markets, including specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals. More information about the company is available at www.amyris.com.
Forward-Looking Statements
This release contains forward-looking statements, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events, such as the expected receipt of additional proceeds from the financing, Amyris’s anticipated commercialization of CBD products, including the qualities thereof, the expected retirement of Amyris’s indebtedness coming due in May, and anticipated business growth. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to Amyris's liquidity and ability to fund operating and capital expenses, risks related to potential delays or failures in development, production and commercialization of products, risks related to Amyris's reliance on third parties, and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Amyris disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise.
Amyris, the Amyris logo and No Compromise are trademarks or registered trademarks of Amyris, Inc. in the U.S. and/or other countries.
Contact:
Peter DeNardo
Director, Investor Relations and Corporate Communications
Amyris, Inc.
+1 (510) 740-7481
investor@amyris.com