Amyris Inc. (AMRS), the U.S. biotechnology company, gained the most in more than two weeks after it sold $58.7 million of shares in a private placement and agreed to sell $25 million in notes to boost its working capital.
Amyris climbed 7.9 percent to $6.44 at the close in New York, the biggest gain since Feb. 9.
The company sold the shares for $5.78 each to existing investors and new ones, including Biolding Investment SA, a company owned by Qatar’s former prime minister Sheikh Abdullah bin Khalifa Al-Thani, Emeryville, California-based Amyris said today in a statement.
Biolding Investment agreed to purchase $15 million of additional common stock after Amyris completes a production plant in Brazil, according to the statement. The 3 percent senior unsecured notes are due in 2017 and may be converted to shares.
Existing investors Temasek Holdings Pte, Total SA (FP), and Naxos Capital Partners also participated in the private placement, Amyris said. Other new investors included Amyris board members John Doerr, a partner at Kleiner Perkins Caufield & Byers, and Fernando Reinach, a general partner at Votorantim Participacoes SA’s venture arm.
The notes, which will be sold to an institutional investor that wasn’t identified, have a conversion price of $7.0682 a share, an 18 percent premium over Amyris’s Feb. 24 closing price.
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