Yield10 Bioscience Announces Proposed Public Offering of Common Stock and Concurrent Private Placement
August 21 2020 - 04:22PM
Yield10 Bioscience, Inc. (Nasdaq: YTEN), an agricultural bioscience
company, today announced it has commenced an underwritten public
offering of shares of its common stock. Yield10 also plans to enter
into a separate securities purchase agreement with investors
affiliated with existing investor Jack W. Schuler, pursuant to
which the investors would agree to purchase shares of Yield10’s
common stock, in a separate private placement transaction. The
private placement would be at a price per share equal to the price
per share in the proposed public offering and is expected to close
concurrently with the public offering. The public offering is
subject to market conditions and the private placement is
contingent upon the closing of the public offering, and there can
be no assurance as to whether or when the public offering and
private placement may be completed, or the actual size or terms of
the public offering and private placement.
Maxim Group LLC is acting as the sole book-running manager for
the public offering.
The public 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 April 1, 2020 and
declared effective on April 10, 2020. A preliminary prospectus
supplement describing the terms of the public offering will be
filed with the SEC and will form a part of the effective
registration statement. Copies of the preliminary prospectus
supplement and accompanying prospectus relating to the public
offering may be obtained, when available, by contacting Maxim Group
LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, or by
telephone at (212) 895-3745.
The shares being sold in the private placement have not been and
will not be registered under the Securities Act of 1933, as
amended, or any state securities laws and may not be offered or
sold in the United States absent registration with the SEC or an
applicable exemption from such registration requirements.
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
developing crop innovations for sustainable global food security.
The Company uses its “Trait Factory” including the “GRAIN” big data
mining trait gene discovery tool as well as the Camelina oilseed
“Fast Field Testing” system to develop high value seed traits for
the agriculture and food industries. As a path toward
commercialization of novel traits, Yield10 is pursuing a partnering
approach with major agricultural companies to drive new traits into
development for canola, soybean, corn, and other commercial crops.
The Company is also developing improved Camelina varieties as a
platform crop for the production and commercialization of
nutritional oils, proteins, and PHA biomaterials. The Company’s
expertise in oilseed crops also extends into canola, where it is
currently field-testing novel yield traits to generate data to
drive additional licensing opportunities. Yield10 is headquartered
in Woburn, MA and has an Oilseeds Center of Excellence 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 completion of the proposed public offering and
concurrent private placement 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: Bret Shapiro, (561) 479-8566,
brets@coreir.comManaging Director, CORE IR
Media Inquiries: Eric Fischgrund, eric@fischtankpr.com FischTank
PR
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