Amyris, Inc. (NASDAQ:AMRS) is pleased to announce that it has entered into definitive securities purchase agreements in a $112 million recapitalization anchored by Foris Ventures, an entity affiliated with Amyris board member John Doerr (of Kleiner Perkins Caufield & Byers), a large mutual fund investor and several other long-term holders.
Warrant Exercise and Significant Reduction in Debt
Foris exercised existing warrants to purchase common stock at $2.87 to facilitate the conversion of approximately $70 million of debt into common stock.
In addition to the debt reduction, the company raised $42 million in new financing led by one of the largest global mutual fund investors, Foris and several other long-term holders. The agreements are for the sale of 14,749,117 shares of common stock at $2.87 per share and rights to purchase up to 9,871,731 shares of common stock at $2.87 per share for a period of 12 months. About half of the 14.7 million shares are from outstanding warrants that were converted in this transaction