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:5/4/2016)... ALBANY, New York , May 4, 2016 /PRNewswire/ ... published by Transparency Market Research "Metabolomics Market - Global ... - 2024", the metabolomics market is anticipated to expand ... to reach USD 2,494.8 million by 2024. ... known as metabolites, within cells, biofluids, tissues or organisms. ...
(Date:5/3/2016)... 3, 2016 The ... Discovery, Gene Expression) Lab-on-a-chip (IVD & POC, ... Diagnostics Centers), Fabrication Technology (Microarrays, Microfluidics) - ... market is expected to reach USD 17.75 ... in 2015, growing at a CAGR of ...
(Date:5/3/2016)... ... May 03, 2016 , ... Leading CEOs from biotech, ... 31st and June 1st at The Four Seasons Hotel Boston. , The Boston ... sciences, offering exclusive access to key decision makers who influence deal making and ...
(Date:5/3/2016)... ... May 03, 2016 , ... ... , the sensor and data driven conferences, will take place on June 7-8, 2016, at the ... UnitedHealth's Vidya Raman-Tangella on incorporating technology -- including AR/VR, machine learning, apps, robotics and ...
Breaking Biology Technology:
(Date:3/15/2016)... Yissum Research Development Company of the Hebrew University ... University, announced today the formation of Neteera Technologies ... biological indicators. Neteera Technologies has completed its first round ... Neteera,s ... from sweat ducts, enables reliable and speedy biometric identification, ...
(Date:3/10/2016)... , March 10, 2016 ... market research report "Identity and Access Management Market by ... Compliance, and Governance), by Organization Size, by Deployment, by ... published by MarketsandMarkets, The market is estimated to grow ... Billion by 2020, at a Compound Annual Growth Rate ...
(Date:3/8/2016)... March 8, 2016   Valencell , the ... announced it has secured $11M in Series D ... a new venture fund being launched by UAE-based ... from existing investors TDF Ventures and WSJ Joshua ... continue its triple-digit growth and accelerate its pioneering ...
Breaking Biology News(10 mins):