Yield10 Bioscience Announces Warrant Exercises for Proceeds of $3.8 million
February 19 2021 - 8:30AM
Yield10 Bioscience, Inc. (Nasdaq:YTEN), an agricultural bioscience
company, today announced that it has received proceeds of
approximately $3.8 million from the exercise of 472,099 warrants
exercised between January 1, 2021 and February 16, 2021, and the
Company has issued to investors 472,099 shares of common stock in
exchange for the exercised warrants. The warrants were issued to
investors pursuant to a public offering that closed on November 19,
2019. Since November 19, 2019, a total of 679,395 warrants issued
in the public offering have been exercised for total proceeds of
$5.4 million. The Series A and Series B warrants issued in the
November 2019 public offering are exercisable at $8.00 per share
and have expiration dates of May 19, 2022 and May 19, 2027,
respectively.
The proceeds received by Yield10 from the exercise of warrants
further strengthen the Company’s balance sheet and will be used for
working capital and general corporate purposes.
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)
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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