Solazyme raises $202.8 million in offerings

April 7, 2014

AlgaeIndustryMagazine.com

Solazyme has announced the closing of its sale of 5,750,000 shares of its common stock, and $149.5 million aggregate principal amount of 5.00% Convertible Senior Subordinated Notes due 2019, in each case pursuant to separate public offerings of the Securities. The Securities include 750,000 Shares and $19.5 million aggregate principal amount of Notes sold pursuant to the exercise in full of options granted to the respective underwriters of the offerings.

Solazyme has received aggregate net proceeds from the sale of the Securities of approximately $202.8 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by Solazyme. The company intends to use the net proceeds for capital expenditures, working capital and general corporate purposes.

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