Amyris Announces Pricing of a $300.0 Million Public Offering (Secondary and Primary) of Common Stock
Amyris, a synthetic biotechnology company, announced a public offering of 19,047,619 shares of common stock at $15.75 per share, raising approximately $120.6 million for the company. The offering consists of a secondary sale of 11,390,797 shares by DSM International and Vivo Capital, with Amyris selling 7,656,822 shares. The underwriters have a 30-day option to purchase an additional 2,857,142 shares. The offering is set to close on or around April 13, 2021, subject to customary conditions.
- Expected gross proceeds of approximately $120.6 million from the offering.
- Potential for increased liquidity and financial flexibility.
- No proceeds will be received from the secondary offering by selling stockholders, which may limit immediate growth impact.
- Potential dilution of shares if underwriters exercise their option for additional shares.
EMERYVILLE, Calif., April 9, 2021 /PRNewswire/ -- Amyris, Inc. (Nasdaq: AMRS) ("Amyris"), a leading synthetic biotechnology company active in the Clean Health and Beauty markets through its consumer brands and a top supplier of sustainable and natural ingredients, today announced the pricing of an underwritten public offering of an aggregate of 19,047,619 shares of its common stock at a public offering price of
Amyris will not receive any proceeds from the sale of shares in the secondary offering by the selling stockholders. The gross proceeds from the offering to Amyris, before deducting the underwriting discount and commissions and estimated offering expenses, and assuming no exercise of the underwriters' option to purchase additional shares, are expected to be approximately
The selling stockholders and Amyris have granted the underwriters a 30-day option to purchase up to an additional 2,857,142 shares of Amyris common stock at the public offering price, less underwriting discounts and commissions. Of this 30-day option, up to 1,708,619 shares may be sold by the selling stockholders and up to 1,148,523 shares may be sold by Amyris. The offering is expected to close on or about April 13, 2021, subject to the satisfaction of customary closing conditions.
J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as the joint bookrunning managers for the offering.
The public offering is being made pursuant to an automatic shelf registration statement on Form S-3 that was filed by Amyris with the U.S. Securities and Exchange Commission (the "SEC") on April 7, 2021, and automatically became effective upon filing. The offering was made only by means of a preliminary prospectus supplement and an accompanying prospectus relating to the offering which have been filed with the SEC and are available on the SEC's website at www.sec.gov. A final prospectus supplement will be filed with the SEC, a copy of which may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Amyris
Amyris (Nasdaq: AMRS) is a science and technology leader in the research, development and production of sustainable ingredients for the Clean Health & Beauty and Flavors & Fragrances markets. Amyris uses an impressive array of exclusive technologies, including state-of-the-art machine learning, robotics and artificial intelligence. Our ingredients are included in over 3,000 products from the world's top brands, reaching more than 200 million consumers. Amyris is proud to own three consumer brands - all built around its No Compromise® promise of clean ingredients: Biossance® clean beauty skincare, Pipette® clean baby skincare and Purecane™, a zero-calorie sweetener naturally derived from sugarcane. Amyris, the Amyris logo, No Compromise, Biossance, Pipette, and Purecane are trademarks or registered trademarks of Amyris, Inc. in the U.S. and/or other countries.
Use of forward-looking statements
This press release contains "forward-looking statements" within the meaning of, and made pursuant to the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the expected proceeds to be received by Amyris and the timing of the closing of the offering. These forward-looking statements may be accompanied by such words as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "might," "plan," "potential," "possible," "will," "would," and other words and terms of similar meaning. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected our public filings, including without limitation, risks which are outside of our full control; risks associated with current and potential delays, work stoppages, or supply chain disruptions caused by the coronavirus pandemic; and the other risks and uncertainties that are described in the Risk Factors section in our Annual Report on Form 10-K filed with the SEC on March 5, 2021, and other reports as filed with the SEC, the preliminary prospectus supplement and accompanying prospectus related to the public offering and subsequent filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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SOURCE Amyris, Inc.
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