Amyris amends DIP financing, extends case milestones

By Sarah Lizee

Olympia, Wash., Sept. 14 – Amyris, Inc. has amended its proposed $190 million debtor-in-possession facility to extend case milestones, according to a notice filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

Now, the company has until Sept. 27 to file a plan and disclosure statement, Dec. 18 to confirm a plan, and Dec. 29 for the plan to go effective.

The plan voting deadline is set for Dec. 8.

As previously reported, Amyris secured the commitment from Euagore, LLC, an entity affiliated with existing lender Foris Ventures, for the post-petition financing to support continued day-to-day operations as the company works with its key stakeholders to negotiate a consensual go-forward plan.

The super-priority multiple-draw senior secured term loan facility is set to mature on Dec. 31 and bear interest at 12% per year, compounded monthly and payable in kind.

The company currently has access to $70 million of the facility through an interim order.

Emeryville, Calif.-based Amyris is a synthetic biotechnology company. The company filed bankruptcy on Aug. 9 under Chapter 11 case number 23-11131.

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