Solazyme, Inc. (SZYM: Quote) said Friday that it has priced its offering of $115 million aggregate principal amount of Convertible Senior Subordinated Notes due 2018 in a private placement.
The company has also granted the initial purchaser a 30-day option to purchase up to an additional $10 million aggregate principal amount of Convertible Notes solely to cover over-allotments.
The sale of the Convertible Notes is expected to close on January 24.
Solazyme expects that the net proceeds from this offering will be about $109.8 million, after deducting discounts to the initial purchaser and estimated offering expenses payable by Solazyme. The company plans to use the net proceeds of the offering to fund project related costs and capital expenditures and for general corporate purposes.
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by RTT Staff Writer
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