WOBURN, Mass., Feb. 19, 2021 (GLOBE NEWSWIRE) — Yield10 Bioscience, Inc. (Nasdaq:YTEN), an agricultural bioscience company, today announced that it has received proceeds of approximately $3.8 million from the exercise of 472,099 warrants exercised between January 1, 2021 and February 16, 2021, and the Company has issued to investors 472,099 shares of common stock in exchange for the exercised warrants. The warrants were issued to investors pursuant to a public offering that closed on November 19, 2019. Since November 19, 2019, a total of 679,395 warrants issued in the public offering have been exercised for total proceeds of $5.4 million. The Series A and Series B warrants issued in the November 2019 public offering are exercisable at $8.00 per share and have expiration dates of May 19, 2022 and May 19, 2027, respectively.
The proceeds received by Yield10 from the exercise of warrants further strengthen the Company’s balance sheet and will be used for working capital and general corporate purposes.
About Yield10 Bioscience
Yield10 Bioscience, Inc. is an agricultural bioscience company developing crop innovations for sustainable global food security. The Company uses its “Trait Factory” including the “GRAIN” big data mining trait gene discovery tool as well as the Camelina oilseed “Fast Field Testing” system to develop high value seed traits for the agriculture and food industries. As a path toward commercialization of novel traits, Yield10 is pursuing a partnering approach with major agricultural companies to drive new traits into development for canola, soybean, corn, and other commercial crops. The Company is also developing improved Camelina varieties as a platform crop for the production and commercialization of nutritional oils, proteins, and PHA biomaterials. The Company’s expertise in oilseed crops also extends into canola, where it is currently field-testing novel yield traits to generate data to drive additional licensing opportunities. Yield10 is headquartered in Woburn, MA and has an Oilseeds Center of Excellence in Saskatoon, Canada.
Lynne H. Brum, (617) 682-4693, [email protected]
Bret Shapiro, (561) 479-8566, [email protected]
Managing Director, CORE IR
Eric Fischgrund, [email protected]