Industrial bioscience company Amyris (NASDAQ: AMRS) this morning announced a series of agreements for up to $95 million in equity financing, and detailed its ongoing initiative to reduce its debt by approximately $75 million. As separately announced, the financing commitment includes participation by Koninklijke DSM N.V., a global science-based company active in health, nutrition and materials. DSM will make an initial investment of $25 million on May 11, 2017, and may invest an additional $25 million in Amyris. DSM will gain one board seat upon the closing of each tranche. Amyris said the companies will enter into a development cooperation focused on products for the global health and nutrition markets. “We are very pleased with the support of our existing shareholders and we are excited to welcome DSM as one of our newest investors and a key shareholder. The combination of the new cash to support our strong growth, the simplification of our debt structure and a new long-term shareholder that is strongly aligned with our key growth markets of Health and Nutrition provides us a significant leap forward in our lead of the Industrial Biotechnology sector. We are very pleased with our ability to deliver better products at a lower cost while making our planet healthier and our customers’ products and businesses more sustainable,” Amyris president and CEO John Melo stated in the news release. Amyris said it plans to provide more details on the transactions described above when it reports its first-quarter 2017 results on May 15, 2017, after market close.
Amyris is the integrated renewable products company that is enabling the world’s leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules and produce specialty ingredients and consumer products. The company is delivering its No Compromise® products across a number of markets, including specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals. More information about the company is available at www.amyris.com
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