Amyris Inc. (AMRS:US), the biotechnology company part-owned by Total SA, will sell as much as $60 million in convertible notes to Temasek Holdings Pte.
Temasek will buy $35 million of notes in an initial tranche and later may purchase an additional $25 million of notes, Emeryville, California-based Amyris said today in a statement. The first tranche is expected to close next month. The second may be issued at the company’s discretion within two years of the agreement, depending on meeting certain milestones at a Brazil production site.
Amyris reported a second-quarter net loss of $38.9 million, or 51 cents a share, compared with $46.8 million, or 81 cents, from a year earlier, according to a statement today. Five analysts surveyed by Bloomberg had estimated a quarterly loss of 43 cents a share.
Amyris uses genetically modified microorganisms to convert plant-sugars into farnesene, a hydrocarbon that can be processed into fuels or specialty chemicals. Total, France’s largest oil producer, owns 18 percent of the company, according to data (AMRS:US) compiled by Bloomberg. Temasek is the second-largest shareholder.
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