E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 10/12/2023 in the Prospect News Distressed Debt Daily.

Amyris amends DIP financing to again push back case deadlines

By Sarah Lizee

Olympia, Wash., Oct. 12 – Amyris, Inc. amended its proposed $190 million debtor-in-possession facility to again push back some of the case deadlines under the agreement, according to documents filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The debtors now have until Nov. 21 to receive an order approving a disclosure statement, and until Jan. 31 to receive confirmation of a plan.

The plan must go into effect by Jan. 31.

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, 2023 and bear interest at 12% per year, compounded monthly and payable in kind.

The company currently has access to $93 million of the facility.

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


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.