Navigation Links
Verenium Announces Debt Repurchase
Date:9/27/2011

SAN DIEGO, Sept. 27, 2011 /PRNewswire/ -- Verenium Corporation (Nasdaq: VRNM), a leading industrial biotechnology company developing and commercializing high-performance enzymes, today announced that it retired its remaining secured 9% Notes through repurchase, leaving an aggregate of $34.9 million in principal amount of unsecured 5.5% Notes outstanding.

To effect this repurchase of approximately $1.1 million in principal amount of its 9% Notes, the Company paid a total of $1.2 million in cash to a single institutional investor, excluding accrued interest, as of the closing date.  

"We are pleased that we were able to retire the remainder of our 9% secured convertible Notes under favorable terms," said Jeffrey Black, Senior Vice President and Chief Financial Officer at Verenium.  "As stated previously, we will continue to address our remaining debt to further strengthen the capital structure and promote future growth."

About VereniumVerenium, an industrial biotechnology company, is a global leader in developing high-performance enzymes.  Verenium's tailored enzymes are environmentally friendly, making products and processes greener and more cost-effective for industries, including the global food and fuel markets.  Read more at www.verenium.com.

Forward-Looking StatementsStatements in this press release that are not strictly historical are "forward-looking" and involve a high degree of risk and uncertainty.  These include, but are not limited to, statements related to Verenium's lines of business, operations, capabilities, commercialization activities, corporate partnerships, target markets and future financial performance, results and objectives, all of which are prospective.  Such statements are only predictions, and actual events or results may differ materially from those projected in such forward-looking statements.  Factors that could cause or contribute to the differences include, but are not limited to, risks associated with Verenium's strategic focus, risks associated with Verenium's technologies, risks associated with Verenium's ability to obtain additional capital to support its planned operations and financial obligations, risks associated with Verenium's dependence on patents and proprietary rights, risks associated with Verenium's protection and enforcement of its patents and proprietary rights, the commercial prospects of the industries in which Verenium operates and sells products, Verenium's dependence on manufacturing and/or license agreements, and its ability to achieve milestones under existing and future collaboration agreements, the ability of Verenium and its partners to commercialize its technologies and products (including by obtaining any required regulatory approvals) using Verenium's technologies and timing for launching any commercial products and projects, the ability of Verenium and its collaborators to market and sell any products that it or they commercialize, the development or availability of competitive products or technologies, the future ability of Verenium to enter into and/or maintain collaboration and joint venture agreements and licenses, and risks and other uncertainties more fully described in Verenium's filings with the Securities and Exchange Commission, including, but not limited to, Verenium's annual report on Form 10-K for the year ended December 31, 2010 and any updates contained in its subsequently filed quarterly reports on Form 10-Q.  These forward-looking statements speak only as of the date hereof, and Verenium expressly disclaims any intent or obligation to update these forward-looking statements.Contacts:Kelly Lindenboom

Sarah CarmodyVice President, Corporate Communications

Manager, Corporate Communications858-431-8580

858-431-8581kelly.lindenboom@verenium.com

sarah.carmody@verenium.com
'/>"/>

SOURCE Verenium Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Verenium Corporation to Present at Canaccord Adams 28th Annual Global Growth Conference
2. Verenium Corporation to Present at the William Blair & Company 2008 Small-Cap Growth Stock Conference
3. Verenium Corporation to Announce Third Quarter 2008 Financial Results
4. Verenium Corporation to Speak at the Credit Suisse Alternative Energy Conference
5. Verenium Regains Compliance With Nasdaq Continued Listing Requirement
6. Verenium Announces First Commercial Cellulosic Ethanol Project
7. Verenium Announces Organizational Changes
8. Verenium Completes Amendment to 8% Senior Convertible Notes
9. BP and Verenium Announce Vercipia Biofuels to Advance the Commercialization of Cellulosic Ethanol
10. Verenium Announces Reverse Stock Split to Take Effect September 9
11. Verenium 1:12 Reverse Stock Split Takes Effect
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... ... ... After several promising treatments in Panama using stem cell ... in Panama, a 6 year-old Duchenne’s muscular dystrophy patient received his first umbilical ... approval of a second application for a single patient, investigational new drug (IND) ...
(Date:5/26/2016)... ... May 26, 2016 , ... FireflySci has been manufacturing quartz ... all over the globe. Their cute firefly logo has been spreading to more ... makes spectrophotometer calibration standards that never require recalibration. These revolutionary standards have ...
(Date:5/25/2016)... ... May 25, 2016 , ... Thailand’s Board of Investment’s New ... San Francisco. Located at booth number 7301, representatives from the Thai Government, research ... the Thai biotechnology and life sciences sector. , Deputy Secretary General of ...
(Date:5/25/2016)... ... 25, 2016 , ... Founder of the Fitzmaurice Hand Institute ... surgery of the hand by the National Board of Physicians and Surgeons, as ... beyond in his pursuit of providing the most comprehensive, effective treatment for his ...
Breaking Biology Technology:
(Date:3/29/2016)... 2016 LegacyXChange, Inc. (OTC: ... SelectaDNA/CSI Protect are pleased to announce our successful effort ... variety of writing instruments, ensuring athletes signatures against counterfeiting ... from athletes on LegacyXChange will be assured of ongoing ... Bill Bollander , CEO states, "By ...
(Date:3/21/2016)... March 22, 2016 Unique ... passcodes for superior security   ... provider of secure digital communications services, today announced it ... and offer enterprise customers, particularly those in the Financial ... and voice authentication within a mobile app, alongside, and ...
(Date:3/15/2016)... March 15, 2016 Yissum Research Development ... technology-transfer company of the Hebrew University, announced today the ... sensing technology of various human biological indicators. Neteera Technologies ... million from private investors. ... the detection of electromagnetic emissions from sweat ducts, enables ...
Breaking Biology News(10 mins):