Solazyme, Inc. Closes Offering of Convertible Senior Subordinated Notes
Raises $125 million in Gross Proceeds, Including Exercise in Full
of Over-Allotment Option
Solazyme, Inc. (NASDAQ: SZYM) announced today the closing of its
offering of 6% Convertible Senior Subordinated Notes due 2018 (the
“Notes”) in a private offering pursuant to Rule 144A under the
Securities Act of 1933, as amended. The issuance of $125 million
aggregate principal amount of Notes includes the exercise in full by
Goldman Sachs & Co., sole book-running manager for the offering, of its
option to purchase $10 million aggregate principal amount of Notes to
cover over-allotments.
Solazyme has received aggregate net proceeds from the sale of the Notes
of approximately $119.4 million, after deducting discounts to the
initial purchaser and estimated offering expenses payable by Solazyme.
Solazyme intends to use the net proceeds of the offering to fund project
related costs and capital expenditures and for general corporate
purposes.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall it constitute
an offer, solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful.
About Solazyme, Inc.
Solazyme, Inc. (SZYM) is a renewable oil and bioproducts company that
transforms a range of low-cost plant-based sugars into high-value oils.
Headquartered in South San Francisco, Solazyme’s renewable products can
replace or enhance oils derived from the world’s three existing sources
– petroleum, plants and animal fats. Initially, Solazyme is focused on
commercializing its products into three target markets: (1) fuels and
chemicals, (2) nutrition and (3) skin and personal care.
Solazyme®, the Solazyme logo and other
trademarks or service names are trademarks of Solazyme, Inc.
Forward Looking Statements
This press release includes forward-looking statements regarding
Solazyme’s financing plans, including statements related to Solazyme’s
intended use of the net proceeds from the sale of the Notes. Such
statements are subject to certain risks and uncertainties including,
without limitation, risks related to market and other general economic
conditions and the anticipated use of the net proceeds from the sale of
the Notes. Solazyme’s forward-looking statements also involve
assumptions that, if they never materialize or prove correct, could
cause its results to differ materially from those expressed or implied
by such forward-looking statements. Although Solazyme’s forward-looking
statements reflect the good faith judgment of its management, these
statements are based only on facts and factors currently known by
Solazyme. As a result, you are cautioned not to rely on these
forward-looking statements.
