Yield10 Bioscience Announces Pricing of $2.9 Million Registered Direct Offering
March 15 2019 - 8:00AM
Yield10 Bioscience, Inc. (Nasdaq:YTEN), a Company developing new
technologies to create step-change improvements in crop yield to
enhance global food security, today announced that it has entered
into a securities purchase agreement with certain institutional
investors and existing investor Jack W. Schuler, providing for the
purchase and sale of 2,421,662 shares of common stock at $1.2101
per share in a registered direct offering, resulting in total gross
proceeds of approximately $2.9 million. The price per share was
equal to the closing price of the common stock on the Nasdaq
Capital Market on March 13, 2019. The closing of the sale of the
shares is expected to take place on or about March 18, 2019,
subject to the satisfaction of customary closing conditions.
Ladenburg Thalmann & Co. Inc., a subsidiary of
Ladenburg Thalmann Financial Services Inc., (NYSE American:LTS) is
acting as exclusive placement agent for the registered direct
offering.
The shares of common stock were offered pursuant to
a shelf registration statement on Form S‑3 (File No. 333-217051),
which was declared effective by the United States Securities and
Exchange Commission ("SEC") on April 12, 2017.
This press release does not constitute an offer to
sell or the solicitation of an offer to buy, nor will there be any
sales of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. A
prospectus supplement relating to the shares of common stock will
be filed by Yield10 Bioscience with the SEC. When available,
copies of the prospectus supplement, together with the accompanying
prospectus, can be obtained at the SEC's website at www.sec.gov or
from Ladenburg Thalmann & Co. Inc., Prospectus Department, 277
Park Avenue, 26th Floor, New York, New York 10172 or by email at
prospectus@ladenburg.com.
About Yield10
Bioscience
Yield10 Bioscience, Inc. is focused on developing new
technologies to achieve step-change improvements in crop yield to
enhance global food security. Yield10 has an extensive track record
of innovation based around optimizing the flow of carbon in living
systems. Yield10 is leveraging its technology platforms and
unique knowledge base to design precise alterations to gene
activity and the flow of carbon in plants to produce higher yields
with lower inputs of land, water or fertilizer. Yield10 is
advancing several yield traits it has developed in crops such as
canola, soybean, rice, wheat and corn. Yield10 is headquartered in
Woburn, MA and has an Oilseeds Center of Excellence in Saskatoon,
Canada.
For more information about the company, please visit
www.yield10bio.com.
(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 completion of the financing described in this press
release, 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 Bioscience's filings with the Securities and
Exchange Commission. 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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