In California, Amyris has closed on a $36 million term loan with Great American Capital Partners, LLC
Cash from the term loan will be used to pay off the company’s Stegodon and other short-term debt maturities. The term loan also includes an additional $35 million accordion credit facility that provides Amyris with another option for financing construction of its production facility, if necessary.
“We are pleased with the support GACP has provided in enabling us to resolve our near-term debt, and we now have no other significant debt issues to resolve through the rest of the year,” said John Melo, President and CEO of Amyris. “This has provided Amyris the flexibility and time needed to further execute our business initiatives, including resolving other debt and improving our capital structure when the timing and economics are more advantageous.”
Amyris is a renewable products company. Applications include specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals. GACP is a subsidiary of B. Riley Capital Management, LLC, an SEC Registered Investment Advisor and wholly-owned subsidiary of B. Riley Financial, Inc.