Amyris announces closing of $34 million private placement
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.
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.