Yield10 Bioscience Announces Pricing of $3.7 Million Public Offering
11 Agosto 2023 - 2:30PM
Yield10 Bioscience, Inc. (Nasdaq:YTEN) (“Yield10” or the
“Company”), an agricultural bioscience company, today announced the
pricing of its public offering of 5,750,000 units at a public
offering price of $0.65 per unit. Each unit consists of one share
of common stock and one warrant to purchase one share of common
stock. The warrants will be immediately exercisable at an exercise
price of $0.65 per share and will expire five years from the date
of issuance. The shares of common stock and accompanying warrants
can only be purchased together in this offering but will be issued
separately and will be immediately separable upon issuance.
Gross proceeds, before deducting placement agent fees and other
offering expenses, are expected to be approximately $3.7 million.
The offering is expected to close on or about August 15, 2023,
subject to the satisfaction of customary closing conditions.
Maxim Group LLC and Lake Street Capital Markets, LLC are acting
as joint placement agents for the offering.
The securities described above are being offered pursuant to a
registration statement on Form S-1 (File No. 333-273240) that was
filed with the U.S. Securities and Exchange Commission (“SEC”) on
July 14, 2023, as amended on August 2, 2023, and declared effective
on August 10, 2023. The offering is being made only by means of a
prospectus which is part of the registration statement. A
preliminary prospectus relating to the offering has been filed with
the SEC. A final prospectus relating to and describing the terms of
the public offering will be filed with the SEC. When available,
copies of the final prospectus relating to the offering may be
obtained at the SEC’s website www.sec.gov. Alternatively, copies of
the final prospectus, when available, may be obtained from Maxim
Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022,
Attention: Syndicate Department, or via email at
syndicate@maximgrp.com or telephone at (212) 895-3745, or from Lake
Street Capital Markets, LLC, Attention: Syndicate Department, 920
Second Avenue South, Suite 700, Minneapolis, Minnesota 55402, or by
emailing syndicate@lakestreetcm.com or by calling (612)
326-1305.
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.
(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 public 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
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