Two investors purchase senior convertible promissory notes in offering
By Devika Patel
Knoxville, Tenn., Aug. 8 - Amyris, Inc. negotiated a $73.1 million private placement of senior convertible promissory notes on Aug. 8, according to an 8-K filed Thursday with the Securities and Exchange Commission. The deal will consist of a $42.7 million initial tranche and a second tranche of $30.5 million.
The 5% first-tranche notes mature in five years and are initially convertible into common shares at $2.44 per share, which represents a 13.48% discount to the $2.82 closing share price on Aug. 7 and also a 15% discount to the trailing 60-day weighted-average closing price of the stock through Aug. 7, the company noted in the filing.
The 10% second-tranche notes mature in five years and are initially convertible into common shares at $2.87 per share, which reflects a 1.77% premium to the closing share price on Aug. 7 and also represents the trailing 60-day weighted-average closing price of the stock through Aug. 7, the company said in the filing.
Maxwell (Mauritius) Pte Ltd. will invest $35 million in an initial tranche and up to $25 million in the second tranche. Total Energies Nouvelles Activites USA will invest the lesser of $7.7 million and its actual pro rata share in the initial tranche and up to $5.5 million in the second tranche.
Amyris is an integrated renewable products company based in Emeryville, Calif.
| Issuer: | Amyris, Inc.
|
| Issue: | Senior convertible promissory notes
|
| Amount: | $73.1 million
|
| Warrants: | No
|
| Investors: | Maxwell (Mauritius) Pte Ltd. (for up to $60 million), Total Energies Nouvelles Activites USA (for up to $13.2 million)
|
| Pricing date: | Aug. 8
|
| Stock symbol: | Nasdaq: AMRS
|
| Stock price: | $2.82 at close Aug. 7
|
| Market capitalization: | $210.61 million
|
|
|
| First-tranche notes
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| Amount: | $42.7 million
|
| Maturity: | Five years
|
| Coupon: | 5%
|
| Conversion price: | $2.44
|
| Investors: | Maxwell (Mauritius) Pte Ltd. (for $35 million), Total Energies Nouvelles Activites USA (for the lesser of $7.7 million and its actual pro rata share)
|
|
|
| Second-tranche notes
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| Amount: | $30.5 million
|
| Maturity: | Five years
|
| Coupon: | 10%
|
| Conversion price: | $2.87
|
| Investors: | Maxwell (Mauritius) Pte Ltd. (for up to $25 million), Total Energies Nouvelles Activites USA (for up to $5.5 million)
|
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