Marrone Bio Files $90 Million Shelf Registration Statement
Marrone Bio Innovations (NASDAQ: MBII) has filed a universal shelf registration statement on Form S-3 with the SEC, allowing it to offer up to $90 million in securities over the next three years.
This move aims to provide the company with the flexibility to finance future opportunities as needed. Currently, there are no specific plans to issue securities. CEO Kevin Helash emphasized that this is a standard governance practice to streamline future capital acquisition. Investors should note that the registration has not yet become effective, and no securities can be sold until it does.
- Filed a universal shelf registration statement for up to $90 million in securities.
- Provides flexibility for future capital acquisition.
- No specific plans to utilize the registration statement for immediate funding.
DAVIS, Calif., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (NASDAQ: MBII), an international leader in providing growers with sustainable bioprotection and plant health solutions to support global agricultural needs, announced today it has filed a “universal shelf” registration statement on Form S-3 with the Securities and Exchange Commission (SEC). Under the shelf registration, upon being declared effective by the SEC, Marrone Bio may offer and sell, from time to time over a three-year period, various securities in an amount of up to
The shelf registration statement is intended to afford Marrone Bio the flexibility to finance future business opportunities by accessing the capital markets on a timely and cost-effective basis. At the present time, the company has no specific plans to issue securities under the registration statement. The specifics of any future offering, along with the prices and terms of any such securities and the use of proceeds of a particular offering, will be determined at the time of any such offering and will be described in a prospectus supplement filed in connection with such offering.
Marrone Bio Chief Executive Officer Kevin Helash noted, “Filing this registration statement is an important housekeeping step and a matter of standard corporate governance to allow us to pursue potential future growth initiatives and streamlines the process if circumstances arise that may require additional capital."
The shelf registration statement relating to the securities has been filed with the SEC but has not yet become effective. The securities may not be sold, nor may offers to buy be accepted, prior to the time the shelf registration statement becomes effective under the Securities Act of 1933, as amended. Any offering of the securities will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. A copy of the preliminary prospectus included in the registration statement may be obtained on the SEC’s website at www.sec.gov.
This press release is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any 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 Marrone Bio Innovations
Marrone Bio Innovations Inc. (NASDAQ: MBII) is a growth-oriented agricultural company leading the movement to a more sustainable world through the discovery, development and sale of innovative biological products for crop protection, crop health and crop nutrition. Our portfolio of more than 15 products help customers operate more sustainably while increasing their return on investment. The company’s commercial products are sold globally and supported by a robust portfolio of over 400 issued and pending patents. Its agricultural end markets include row crops; fruits and vegetables; trees, nuts and vines; and greenhouse production. MBII’s research and development program uses proprietary technologies to isolate and screen naturally occurring microorganisms and plant extracts to create new, sustainable solutions in agriculture.
Learn more about Marrone Bio Innovations at www.marronebio.com. We also use our investor relations website, https://investors.marronebio.com, as well as our corporate Twitter account, @Marronebio, as means of disclosing material non-public information, and encourage our investors and others to monitor and review the information we make public in these locations. Follow us on social media: Twitter, LinkedIn and Instagram.
Marrone Bio Innovations Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing Marrone Bio’s views as of any subsequent date. Examples of such statements include statements regarding the potential effectiveness of the company’s shelf registration statement, the company’s ability to use the shelf registration statement access the capital markets and the company’s ability to use financing raised from the registration statement for future growth. Such forward-looking statements are based on information available to the Company as of the date of this release and involve a number of risks and uncertainties, some beyond the Company’s control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including the recent uncertainty in the global economy and industry-specific economy caused by the COVID-19 pandemic, consumer, regulatory and other factors affecting demand for the Company’s products, weather, regulatory and other factors affecting demand for the company’s products, any difficulty in marketing the company’s products in its target markets, competition in the market for pest management products, lack of understanding of bio-based pest management products by customers and growers, and adverse decisions by regulatory agencies and other relevant third parties. Additional information that could lead to material changes in MBI’s performance is contained in its filings with the SEC. Marrone Bio is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of current information, future events or otherwise.
Company Contact:
Clyde Montevirgen
Vice President of Business Development & Investor Relations
Telephone: 530-750-2800
info@marronebio.com
Investor Relations
Lucas A. Zimmerman
Senior Vice President
MZ Group – MZ North America
Main: 949-259-4987
MBII@mzgroup.us
FAQ
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