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.

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