Yield10 Bioscience Announces Pricing of $12.7 Million Public Offering
January 31 2021 - 7:30PM
Yield10 Bioscience, Inc. (Nasdaq: YTEN), an agricultural bioscience
company, today announced the pricing of its underwritten public
offering of 1,040,000 shares of its common stock at a public
offering price of $12.25 per share. The gross proceeds from the
public offering will be approximately $12.7 million, the maximum
amount currently available to it under the company’s shelf
registration statement, before deducting underwriting discounts and
commissions and estimated offering expenses. Existing investors,
including shareholder Jack W. Schuler, as well as institutional and
retail investors participated in the offering.
The public offering is expected to close on or about Wednesday,
February 3, 2021, subject to customary closing conditions.
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 has been
filed with the SEC. A final prospectus supplement 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 by contacting Maxim Group LLC, 405 Lexington Avenue, 2nd
Floor, New York, NY 10174, 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
developing crop innovations aligned with trends in global food
security, social responsibility, and sustainability. The Company is
using its “Trait Factory,” a differentiated trait gene discovery
platform including the “GRAIN” big data mining trait gene discovery
tool as well as the Camelina oilseed “Fast Field Testing” system,
to develop improved Camelina varieties to produce proprietary
products, and to produce high value seed traits for the agriculture
and food industries. The Company’s goals are to efficiently develop
and commercialize a high value crop products business based on
superior varieties of Camelina for producing feedstock oils,
nutritional oils, and PHA bioplastics. 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.
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 closing of the public offering 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.com Managing Director, CORE IR
Media Inquiries: Eric Fischgrund,
eric@fischtankpr.com FischTank PR
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