Market Overview

Solazyme Closes Offering of Convertible Senior Subordinated Notes

Solazyme (NASDAQ: SZYM) announced today the closing of its offering of 6% Convertible Senior Subordinated Notes due 2018 (the “Notes”) in a private offering pursuant to Rule 144A under the Securities Act of 1933, as amended. The issuance of $125 million aggregate principal amount of Notes includes the exercise in full by Goldman Sachs & Co., sole book-running manager for the offering, of its option to purchase $10 million aggregate principal amount of Notes to cover over-allotments.

Solazyme has received aggregate net proceeds from the sale of the Notes of approximately $119.4 million, after deducting discounts to the initial purchaser and estimated offering expenses payable by Solazyme. Solazyme intends to use the net proceeds of the offering to fund project related costs and capital expenditures and for general corporate purposes.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

Posted-In: News Offerings

 

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