In California, renewable chemical maker Amyris, Inc. has entered into a definitive purchase agreement for stock and announced a concurrent private placement, saying the combination will net about $50 million. The funds will be used for general corporate purposes.
The definitive purchase agreement covers the purchase and sale of 20,000,000 shares of the Company’s common stock and warrants to purchase up to an aggregate of 15,000,000 shares of common stock in a registered direct offering. Each share of common stock is being sold together with a warrant to purchase 0.75 of a share of common stock at a combined purchase price of $1.50. The warrants will be immediately exercisable at a price of $1.80 per full share of common stock for a period of five years from closing.
Amyris also entered into a definitive purchase agreement with Foris Ventures, LLC, an entity affiliated with Amyris board member John Doerr, for the purchase and sale of 13,333,334 shares of the Company’s common stock and warrants to purchase up to an aggregate of 10,000,000 shares of common stock. Each share of common stock is being sold together with a warrant to purchase 0.75 of a share of common stock at a combined purchase price of $1.50. The warrants will be immediately exercisable at a price of $1.80 per full share of common stock for a period of five years from closing.