In California, Amyris closed a $20 million private placement of unsecured promissory notes to existing investors. In connection with this financing, the company also issued warrants for 2.9 million shares of common stock. The private placement was led by a long-term investor affiliated with one of Amyris’s board members, John Doerr, of the venture capital firm Kleiner Perkins Caufield & Byers, and included participation by Biolding Investment S.A. and Naxyris S.A., which are also associated with members of the company’s board of directors.
In the private placement, the company issued unsecured promissory notes due on May 15, 2017 and warrants to purchase common stock. The number of shares subject to the warrants, which are exercisable for $0.01 per share, was based on warrant coverage of 20% of the principal amount of notes purchased by each investor. Details of the transaction and a description of the securities are included in a related Current Report on Form 8-K, which the company filed today with the Securities and Exchange Commission (SEC) in conjunction with this news release.
“We are pleased with the continued growth in our business as we deliver on the promise of our company; we are making better products for our customers and collaborators, which helps them improve their business performance while making our planet better. We appreciate the continued support of our shareholders,” said John Melo, Amyris President & CEO.