Solazyme, Inc. (NASDAQ:SZYM) announced today the closing of its sale of
5,750,000 shares (the “Shares”) of its common stock, and $149.5 million
aggregate principal amount of 5.00% Convertible Senior Subordinated
Notes due 2019 (the “Notes” and together with the Shares, the
“Securities”), in each case pursuant to separate public offerings of the
Securities. The Securities include 750,000 Shares and $19.5 million
aggregate principal amount of Notes sold pursuant to the exercise in
full of options granted to the respective underwriters of the offerings.
Solazyme has received aggregate net proceeds from the sale of the
Securities of approximately $202.8 million, after deducting underwriting
discounts and commissions and estimated offering expenses payable by
Solazyme. Solazyme intends to use the net proceeds for capital
expenditures, working capital and 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 growing range of abundant plant-based sugars into
high-value triglyceride oils and other bioproducts. 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. Solazyme is commercializing its
primary products as either tailored oils, powdered oils, and closely
related products in the chemicals, fuels and food markets or as branded
consumer products.
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 Securities. 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 Securities. 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.
Copyright Business Wire 2014