Navigation Links
Dyadic International Raises $3 Million in Private Placement of Convertible Notes
Date:8/24/2010

JUPITER, Fla., Aug. 24 /PRNewswire-FirstCall/ -- Dyadic International, Inc. ("Dyadic") (Pink Sheets: DYAI), a global biotechnology company focused on the discovery, development, manufacture and sale of specialty enzyme products and solutions for the bioenergy, industrial enzyme and biopharmaceutical industries, today announced that it has completed a private placement of $3,000,000 in convertible subordinated secured promissory notes (the "Notes") with two investors.

(Logo: http://photos.prnewswire.com/prnh/20091214/DYADICLOGO)

(Logo: http://www.newscom.com/cgi-bin/prnh/20091214/DYADICLOGO)

The Notes will pay interest quarterly at a rate of 8% per annum. The Notes will be convertible, at the holder's option after January 1, 2011, into shares of Dyadic common stock at a conversion price of $1.82 which represents 120% of the average closing price for the 30-day period preceding the closing date. The Notes mature on January 1, 2013.

Dyadic expects to use proceeds from this offering for working capital including continued investments in research and development and new product introductions, and general corporate purposes.

Dyadic's President and Chief Executive Officer, Mark Emalfarb, stated, "This financing provides Dyadic with a timely source of capital on terms that are substantially less dilutive for Dyadic's stockholders than other capital raising alternatives. The proceeds of this offering strengthen Dyadic's balance sheet and improves our working capital which puts Dyadic in a better position to negotiate additional licensing arrangements and strategic collaborations on the best possible terms for the benefit of Dyadic and its stockholders."

About Dyadic

Dyadic International, Inc. is a global biotechnology company that uses its patented and proprietary technologies to conduct research, development and commercial activities for the discovery, development, manufacture and sale of products and solutions for the bioenergy, industrial enzyme and biopharmaceutical industries. Please visit Dyadic's website at www.dyadic.com.

Cautionary Statement for Forward-Looking Statements

Certain statements contained in this press release are forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause Dyadic's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as required by law, Dyadic expressly disclaims any intent or obligation to update any forward-looking statements.


'/>"/>
SOURCE Dyadic International, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Dyadic International to Announce Second Quarter 2010 Financial Results and Hold Conference Call on August 13, 2010
2. Dyadic International Announces Final Resolution and Dismissal of Stockholder Class Action Lawsuit
3. Dyadic International Engages The Abraham Group as Strategic Advisor
4. Dyadic International to Present at Rodman & Renshaw 6th Annual Global Healthcare Conference
5. Dyadic International Strengthens Management Team
6. Dyadic International Extends Collaboration With The Scripps Research Institute
7. Nutrastar International Inc. Announces Record Second Quarter 2010 Results
8. International Society for Cellular Therapy (ISCT) joins forces with Roche and Genzyme to launch Cell Therapy Industry Partnership.
9. Renhuang Receives AAA(1) Rating from Chinese Academy of International Trade & Economic Cooperation of Ministry of Commerce
10. SemBioSys Appoints President of US and International Operations and Announces the Appointments of Three Vice Presidents
11. FRC Systems International State-of-the-art Industrial Wastewater Treatment Systems
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... ... , ... Supplyframe, the Industry Network for electronics hardware design ... Located in Pasadena, Calif., the Design Lab’s mission is to bring together inventors ... and brought to market. , The Design Lab is Supplyframe’s physical representation of ...
(Date:6/23/2016)... 23, 2016 Apellis Pharmaceuticals, Inc. today ... trials of its complement C3 inhibitor, APL-2. The ... ascending dose studies designed to assess the safety, ... injection in healthy adult volunteers. Forty ... a single dose (ranging from 45 to 1,440mg) ...
(Date:6/23/2016)... On Wednesday, June 22, 2016, the ... the Dow Jones Industrial Average edged 0.27% lower to finish ... 0.17%. Stock-Callers.com has initiated coverage on the following equities: Infinity ... NKTR ), Aralez Pharmaceuticals Inc. (NASDAQ: ... ). Learn more about these stocks by accessing their free ...
(Date:6/23/2016)... ... 2016 , ... Velocity Products, a division of Morris Group, ... exclusively for Okuma CNC machining centers at The International Manufacturing Technology Show, IMTS, ... companies with expertise in toolholding, cutting tools, machining dynamics and distribution, Velocity SMART ...
Breaking Biology Technology:
(Date:6/9/2016)... 2016 Paris Police Prefecture ... security solution to ensure the safety of people and operations ... the major tournament Teleste, an international technology group ... announced today that its video security solution will be utilised ... up public safety across the country. The system roll-out is ...
(Date:6/3/2016)... 2016 Das DOTM ... Nepal hat ein 44 Millionen ... Kennzeichen, einschließlich Personalisierung, Registrierung und IT-Infrastruktur, an ... und Implementierung von Identitätsmanagementlösungen. Zahlreiche renommierte internationale ... teilgenommen, aber Decatur wurde als konformste und ...
(Date:6/2/2016)... --  The Weather Company , an IBM Business (NYSE: ... in which consumers will be able to interact with IBM ... voice or text and receive relevant information about the product ... have long sought an advertising solution that can create a ... and valuable; and can scale across millions of interactions and ...
Breaking Biology News(10 mins):