World News: 21:00 GMT Wednesday 15th May 2019. [Amyris, Inc. via Globe Newswire via SPi World News]
EMERYVILLE, Calif., May 15, 2019 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), a leader in the development and production of sustainable ingredients for the Health & Wellness, Clean Beauty and Flavors & Fragrances markets, today announced that it has retired its 6.5% convertible notes due May 2019. The company retired the majority of the debt using cash and the exchange of certain notes for common stock and warrants. One of the noteholders, board-affiliated Total S.A., which holds about $9.7 million of the remaining notes, requested an extension and the company has paid this portion with a new note payable to Total.
“We have succeeded in retiring $87 million of convertible debt this year that posed an overhang on our stock price and capital structure and we remain focused on continuing to simplify our balance sheet,” said John Melo, Amyris President and CEO. “With our May 2019 convertible debt resolved, we now have a runway to leverage improved financial flexibility toward meeting our strategic growth objectives in the markets we serve.”
Terms of the debt to equity conversion are more fully disclosed in a Form 8-K filed yesterday. Terms regarding the extension will be more fully disclosed in a Form 8-K to be filed later this week with the Securities and Exchange Commission and made available free of charge at sec.gov.
Amyris, the Amyris logo and No Compromise are trademarks or registered trademarks of Amyris, Inc. in the U.S. and/or other countries.
Peter DeNardoDirector, Investor Relations and Corporate CommunicationsAmyris, Inc. +1 (510) 740-7481
Globe Newswire: 21:00 GMT Wednesday 15th May 2019
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