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Amyris Completes Private Placement of Common Stock

Posted: February 27, 2012

Amyris, Inc. announced the completion of a $58.7 million private placement of its common stock and that is has entered into a definitive agreement to privately place $25 million in aggregate principal amount of 3% senior unsecured notes due 2017. The placement of notes is subject to customary closing conditions and expected to be completed by Feb. 28, 2012.

The private placement of its common stock included existing Amyris investors Temasek Holdings, Total Gas & Power USA, SAS, and Naxyris SA (an affiliate of NAXOS Capital Partners). Additionally, three new investors were also involved: Biolding Investment SA (a company owned by HH Sheikh Abdullah bin Khalifa Al-Thani of Qatar), an entity affiliated with director John Doerr (of Kleiner Perkins Caufield & Byers, a current stockholder), and an entity affiliated with director Fernando Reinach. The purchase and sale price for the shares was $5.78 per share, based on the consolidated closing bid price for Amyris common stock on NASDAQ of $5.77 on Feb. 22, 2012, the day the company and the investors entered into the purchase agreement for the transaction, plus $0.01.

The common stock transaction included a commitment on the part of Biolding to invest an additional $15 million in common stock upon satisfaction by Amyris of criteria associated with the commissioning of Amyris' Paraiso Bioenergia SA production plant in Brazil by March 31, 2013. The addition of this conditional $15 million in funding would bring the total amount raised in connection with these equity and note transactions to $98.7 million. Among the various terms that will be detailed in the company's regulatory filing for this transaction, Amyris granted each of Biolding, Naxyris and Temasek Holdings the right to designate a director to serve on Amyris's board.

"This renewed commitment of our investors puts Amyris on strong financial footing and reinforces our ability to scale up our technology. We are thrilled with the investment from His Highness Sheikh Abdullah and his commitment to invest in the production of renewable hydrocarbons," said John Melo, Amyris president and CEO.

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