Yield10 Bioscience Announces Pricing of $3.0 Million Registered Direct Offering and Concurrent Private Placement
03 Maio 2023 - 10:40AM
Yield10 Bioscience, Inc. (Nasdaq:YTEN) (“Yield10” or the
“Company”), an agricultural bioscience company, today announced
that it has agreed to sell $3.0 million of its shares of common
stock (or prefunded warrants in lieu thereof) in a registered
direct offering and warrants in a concurrent private placement with
investors including a certain institutional investor and an
existing investor.
Under the terms of the securities purchase agreement, Yield10
has agreed to sell 1,006,710 shares of common stock. The
Company has also agreed to issue unregistered warrants to purchase
1,006,710 shares of common stock. The combined effective
offering price for one share of common stock (or prefunded warrant
in lieu thereof) and accompanying warrant is $2.98. The warrants
have an exercise price of $2.98 and will be exercisable 6-months
from the issuance date and will expire five and a half years from
the date of issuance. The gross proceeds are estimated to be $3.0
million before deducting the placement agent fees and other
estimated offering expenses.
The registered direct offering is expected to close on or about
May 5, 2023, subject to the satisfaction of customary closing
conditions.
Maxim Group LLC is acting as sole placement agent for the
offering.
The registered direct offering is being made pursuant to an
effective shelf registration statement on Form S-3 that was filed
with the U.S. Securities and Exchange Commission (“SEC”) on March
29, 2021, and declared effective on April 2, 2021. Such securities
are being offered only by means of a prospectus. A prospectus
supplement and the accompanying prospectus relating to and
describing the terms of the registered direct offering will be
filed with the SEC. The warrants to be issued in the concurrent
private placement and the shares issuable upon exercise of such
warrants were offered in a private placement under Section 4(a)(2)
of the Securities Act of 1933, as amended (the “Act”), and
Regulation D promulgated thereunder and have not been registered
under the Act or applicable state securities laws. When available,
copies of the prospectus supplement and the accompanying prospectus
relating to the registered direct offering may be obtained at the
SEC’s website www.sec.gov or by contacting Maxim Group LLC, 300
Park Avenue, 16th Floor, New York, NY 10022, or by telephone at
(212) 895-3745.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or
jurisdiction.
About Yield10 Bioscience
Yield10 Bioscience, Inc. is an agricultural bioscience company
that is using its differentiated trait gene discovery platform, the
“Trait Factory”, to develop improved Camelina varieties for the
production of proprietary seed products, and to discover high value
genetic traits for the agriculture and food industries. Our goals
are to efficiently establish a high value seed products business
based on developing superior varieties of Camelina for the
production of feedstock oils, PHA bioplastics and omega-3 (EPA,
DHA+EPA) oils, and to license our yield traits to major seed
companies for commercialization in major row crops, including corn,
soybean and canola. Yield10 is headquartered in Woburn, MA and has
a Canadian subsidiary, Yield10 Oilseeds Inc., located in Saskatoon,
Canada.
For more information about the Company, please visit
www.yield10bio.com, or follow the Company on Twitter, Facebook and
LinkedIn.
(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 satisfaction of customary closing conditions
related to the registered direct offering, 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's filings
with the SEC. 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: Bret Shapiro, (561) 479-8566,
brets@coreir.comManaging Director, CORE IR
Media Inquiries: Eric Fischgrund, eric@fischtankpr.com FischTank
PR
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