Navigation Links
Verenium Announces Debt Repurchase

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

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

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:
(Date:11/30/2015)... ... November 30, 2015 , ... ... Manufacturing Practice (GMP) 10000 in the Santiago Marriott. The Global Stem Cells Group ... by a world-class team of qualified medical researchers and practitioners, experienced in administering ...
(Date:11/30/2015)... 2015  An interventional radiology technique shows promise for helping ... of a study being presented today at the annual meeting ... (RSNA). --> --> ... interventional radiologists as a way to stop bleeding in emergency ... means of treating obesity is new. Mubin Syed ...
(Date:11/30/2015)... includes an MPP licen ... niversity , s Solid Drug Nanoparticle (SDN) Technology ; ... up through cost cuts of priority ... based anywhere in the world will have the right to make, use and distribute ... where licensees based anywhere in the world will have the right to make, use ...
(Date:11/30/2015)... HOLLISTON, Mass. , Nov. 30, 2015 /PRNewswire/ ... HART ), a biotechnology company developing bioengineered ... has received written notification from The NASDAQ Stock ... minimum bid price requirements. The letter noted that ... of HART,s common stock having exceeded $1.00 per ...
Breaking Biology Technology:
(Date:11/20/2015)... 2015 NXTD ) ("NXT-ID" or ... growing mobile commerce market and creator of the Wocket® ... was recently interviewed on The RedChip Money Report ... weekend on Bloomberg Europe , Bloomberg Asia, Bloomberg ... NXTD ) ("NXT-ID" or the "Company"), a biometric ...
(Date:11/19/2015)... YORK , Nov. 19, 2015  Although some ... market is dominated by a few companies, according to ... companies own 51% of the market share of the ... The World Market for Molecular Diagnostic s ... "The market is still controlled by one company ...
(Date:11/18/2015)... New York , November 18, 2015 ... Market Research has published a new market report titled ... Growth, Trends, and Forecast, 2015 - 2021. According to the ... in 2014 and is anticipated to reach US$29.1 bn ... to 2021. North America ...
Breaking Biology News(10 mins):