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8-K - 8-K - YIELD10 BIOSCIENCE, INC.a11-12564_48k.htm
EX-5.1 - EX-5.1 - YIELD10 BIOSCIENCE, INC.a11-12564_4ex5d1.htm
EX-1.1 - EX-1.1 - YIELD10 BIOSCIENCE, INC.a11-12564_4ex1d1.htm

Exhibit 99.1

 

 

Metabolix Prices Common Stock Offering

 

CAMBRIDGE, Mass. (May 19, 2011) - Metabolix, Inc. (NASDAQ: MBLX), a bioscience company focused on developing sustainable solutions for plastics, chemicals and energy, today announced that it has priced a public offering of 6,200,000 newly issued shares of its common stock at a public offering price of $7.25 per share. The gross proceeds to Metabolix, before underwriting discounts and commissions and other offering expenses, from the sale of the shares are expected to be approximately $44.9 million. J.P. Morgan Securities LLC is serving as the sole book-running manager and Stifel Nicolaus Weisel is serving as the co-manager for this offering.  The Company has granted the underwriters a 30-day option to purchase up to 930,000 additional shares to cover over-allotments, if any. If the underwriters exercise their over-allotment option in full, gross proceeds from the offering, before underwriting discounts and commissions and other offering expenses, will be approximately $51.7 million. The offering is expected to close on May 24, 2011, subject to customary closing conditions.  The Company intends to use the net proceeds it receives from the offering for working capital and other general corporate purposes.

 

The shares will be issued pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (the “SEC”) and was declared effective on May 9, 2011. The offering is being made by means of a prospectus and related prospectus supplement. Copies of the prospectus supplement relating to these securities may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or via telephone at: (866) 803-9204. These shares may not be sold nor may offers to buy be accepted prior to delivery of a prospectus meeting the requirements of the U.S. Securities Act of 1933, as amended. 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 registration or qualification under the securities laws of any such state or jurisdiction.

 

About Metabolix

 

Founded in 1992, Metabolix, Inc. is an innovation-driven bioscience company focused on providing sustainable solutions for the world’s needs for plastics, chemicals and energy. The Company is taking a systems approach, from gene to end product, integrating sophisticated biotechnology with advanced industrial practice. Metabolix is now developing and commercializing Mirel™, a family of high performance bioplastics, which are biobased and biodegradable alternatives to many petroleum–based plastics, through Telles, a joint venture between Metabolix and Archer Daniels Midland Company. Metabolix is also developing biosourced industrial chemicals and a proprietary platform technology for co-producing plastics, chemicals and energy, from crops such as switchgrass, oilseeds and sugarcane. (MBLX-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 statements, including, without limitation, statements regarding expectations for Metabolix research and development programs, 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 and are detailed in Metabolix’s filings with the Securities and Exchange Commission. Metabolix assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

 

Media:

Schwartz Communications
Keith Giannini or Jen Barlow, 781-684-0770
metabolix@schwartzcomm.com

 

or

 

Investors:

ICR
James Palczynski, 203-682-8229
james.palczynski@icrinc.com