Amyris gets $16 million credit facility, promissory note from Foris

Chicago, July 15 – Amyris, Inc. entered into a $16 million credit agreement with Foris Ventures, LLC, according to an 8-K filing with the Securities and Exchange Commission.

On July 10, the company borrowed $8 million under the credit facility and issued to Foris a promissory note for $8 million.

The company expects to close on the remaining portion of the credit facility on July 29.

The promissory note carries an interest rate of 12.5% and matures on Dec. 31. The company can repay the note before the maturity at par plus any interest due without penalty.

Emeryville, Calif.-based Amyris is a maker of renewable chemicals and fuels.

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