WOBURN, Mass., Dec. 19, 2017 (GLOBE NEWSWIRE) -- Yield10 Bioscience, Inc. (NASDAQ:YTEN) today announced the pricing of an
underwritten public offering of units for gross proceeds of $12.6 million, prior to deducting underwriting discounts and
commissions and offering expenses payable by Yield10 Bioscience.
The offering is comprised of 3,828,000 Class A Units, priced at a public offering price of $2.25 per unit, with each unit
consisting of one share of common stock, a five-year warrant to purchase one share of common stock at an exercise price of $2.25
per share, and a nine-month warrant to purchase 0.5 share of common stock at an exercise price of $2.25 per share, and 3,987 Class
B Units, priced at a public offering price of $1,000 per unit, with each unit consisting of one share of preferred stock, having a
conversion price of $2.25, five-year warrants to purchase 445 shares of common stock with an exercise price of $2.25 per share, and
nine-month warrants to purchase 223 shares of common stock with an exercise price of $2.25 per share. The conversion price of the
preferred stock issued in the transaction and the exercise prices of the warrants are fixed and do not contain any variable pricing
features or any price based anti-dilutive features. The preferred stock issued in this transaction includes a beneficial ownership
blocker but has no dividend rights (except to the extent that dividends are also paid on the common stock), liquidation preference
or other preferences over common stock, and, with certain exceptions, has no voting rights. The securities comprising the units are
immediately separable and will be issued separately. The closing of the offering is expected to take place on or about December 21,
2017, subject to the satisfaction or waiver of customary closing conditions.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), is sole book-running
manager in connection with the offering.
In addition, Yield10 has granted the underwriters a 45-day option to purchase up to 15% of the shares of common stock (including
shares underlying the Series A preferred stock) and/or additional warrants to cover over-allotments, if any, at the public offering
price per share and per warrant, less the underwriting discounts and commissions.
The securities were offered pursuant to a registration statement on Form S-1 (File No. 333-221283), which was declared effective
by the United States Securities and Exchange Commission ("SEC") on December 18, 2017, and an additional registration statement
filed pursuant to Rule 462(b) (File No. 333-222147).
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. A final prospectus relating to this offering will be filed by Yield10
Bioscience with the SEC. When available, copies of the final prospectus can be obtained at the SEC’s website at www.sec.gov or from Ladenburg Thalmann & Co. Inc., Prospectus Department, 277 Park Avenue,
26th Floor, New York, New York 10172, by calling (212) 409-2000.
About Yield10 Bioscience
Yield10 Bioscience, Inc. is focused on developing new technologies to achieve step-change improvements in crop yield to enhance
global food security. Yield10 has an extensive track record of innovation based around optimizing the flow of carbon in living
systems. Yield10 is leveraging its technology platforms and unique knowledge base to design precise alterations to gene
activity and the flow of carbon in plants to produce higher yields with lower inputs of land, water or fertilizer. Yield10 is
advancing several yield traits it has developed in crops such as Camelina, canola, soybean and rice. Yield10 is headquartered in
Woburn, MA and has an Oilseeds center of excellence in Saskatoon, Canada.
(YTEN-G)
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking
statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this
press release which are not strictly historical, including, without limitation, the completion of the financing described in this
press release, constitute forward-looking statements. Such forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results to differ materially from those anticipated, including the risks and
uncertainties detailed in Yield10 Bioscience's filings with the Securities and Exchange Commission. Yield10 assumes no obligation
to update any forward-looking information contained in this press release or with respect to the matters described herein.
Contacts:
Yield10 Bioscience:
Lynne H. Brum, (617) 682-4693, LBrum@yield10bio.com
Investor Relations Contact:
Amato and Partners, LLC
90 Park Avenue, 17th Floor
New York, NY 10016
admin@amatoandpartners.com
