The agricultural bioscience company Yield10 Bioscience, Inc. is looking to earn the proceeds from the public offering and concurrent private offering. It has priced its underwritten public offering that it planned for the 835,000 common stock shares. The public offering price is set as $4.25 per share. The company will earn the gross proceeds of around $3.5 million from this offering, before the deduction of underwriting discounts and commissions and offering related estimated expenses.
Yield10 has also granted to the underwriter a 45-day option to purchase up to an additional 125,250 shares of common stock, at the public offering price less discounts and commissions.
In addition, Yield10 also announced about the investors of existing investor Jack W. Schuler, will purchase 396,450 shares of Yield10’s common stock respective to a securities purchase agreement with Yield10. The price per share will be same as announced for the public offering which is a separate private placement transaction and will close concurrently with attribution to public offering.
The gross proceeds from this private placement that will be attended by investor at Jack W. Schuler will allow the company to earn gross proceeds of $1.7 million. Yield10 is selling all the shares offered in public offering and private placement.
Subject to customary closing conditions, the public offering and private placement will close around August 26, 2020. For the public offering, Maxim Group LLC has the roel of the sole book-running manager.
Cheyenne Cox is a news report covering multiple Market and economy News. She is creative and highly professional writer. Cheyenne holds a degree in communication and journalism and has also a Diploma in digital marketing. She belongs to south Africa who has also lived in Europe and is currently based in the US.
