In California, Amyris has retired $86 million in debt—exceeding its previous goal of $75 million.
The original debt-reduction goal was announced on May 8, 2017 when the biobased farnesene producer announced an equity financing by Royal DSM.
Of the $86 million Amyris retired, approximately $20 million was from long-term convertible bonds that converted at $1.14–$2.24—significantly higher than the company’s current stock price.
“Our continued operational performance combined with strong cash position and much improved balance sheet enable us to deliver on our growth plan,” says Amyris president and CEO John Melo.