Offering sells 4.37 million shares at $3.32 each, a 28.72% premium
By Devika Patel
Knoxville, Tenn., June 16 – Metabolix, Inc. said it plans a $15 million private placement of stock.
The company will sell 4.37 million common shares at $3.32 apiece. The price per share is a 4.08% premium to the June 15 closing share price of $3.19. The price is also identical to the closing price of the stock on June 11, the company noted in a press release.
Investors also bought four-year warrants for 3,933,000 shares at $0.125 apiece, which are each exercisable at $3.98, a 24.77% premium to the June 15 closing share price.
The investors include Jack W. Schuler, Birchview Capital, Hong Kong Sino-Science Oil & Gas Co., Ltd.
Proceeds will be used for working capital and general corporate purposes.
Cambridge, Mass.-based Metabolix develops alternatives to petrochemical-based plastics, fuels and chemicals.
| Issuer: | Metabolix, Inc.
|
| Issue: | Common stock, warrants
|
| Amount: | $15 million
|
| Shares: | 4.37 million
|
| Price: | $3.32
|
| Warrants: | For 3,933,000 shares
|
| Warrant price: | $0.125
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $3.98
|
| Investors: | Jack W. Schuler, Birchview Capital, Hong Kong Sino-Science Oil & Gas Co., Ltd.
|
| Pricing date: | June 16
|
| Stock symbol: | Nasdaq: MBLX
|
| Stock price: | $3.19 at close June 15
|
| Market capitalization: | $84.26 million
|
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