Navigation Links
Verenium Announces Up to $16 Million in New Secured Financings
Date:10/20/2011

SAN DIEGO, Oct. 20, 2011 /PRNewswire/ -- Verenium Corporation (Nasdaq: VRNM), a leading industrial biotechnology company developing and commercializing high-performance enzymes, today announced that it has entered into an agreement with Comerica Bank and the Export-Import Bank of the United States ("Ex-Im Bank") for two 18-month, secured revolving credit facilities totaling up to $13 million.

These new credit facilities will allow the Company to borrow up to $10 million against its eligible foreign receivables, and up to $3 million against its eligible domestic receivables and inventory. Borrowings under the facilities will bear interest at the daily LIBOR plus 6%. The proceeds of these facilities will be used for general working capital purposes.

Separately, the Company has also put in place a facility for up to $3 million in secured equipment financing to help support the planned build-out of its research and bioprocess development laboratories and corporate headquarters in San Diego.

"We are very pleased with the flexibility these new facilities provide the Company, and that we have addressed a portion of our financing needs with non-dilutive sources of capital," said Jeffrey Black, Chief Financial Officer at Verenium. "These credit facilities allow us to utilize existing assets to support the general working capital needs of the Company, and will provide us with available borrowing capacity to support the anticipated growth of our sales. In addition, the structure of these facilities will enable us to leverage certain additional assets, including our intellectual property, for additional secured financing."

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-effecti
'/>"/>

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

Page: 1 2 3

Related biology technology :

1. Verenium Announces Debt Repurchase
2. Verenium to Present at Upcoming Conferences
3. Verenium Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2011
4. Verenium Announces Debt Repurchase
5. Verenium Announces Signing of Lease for New Office and Lab Space
6. Verenium and Novus International Inc. Announce Agreement to Develop and Commercialize Animal Nutrition Enzymes
7. Verenium Receives CLARUS Award at MDB Capitals Bright Lights Conference 2011
8. Verenium to Present at Upcoming Conferences
9. Verenium to Speak at the 2011 BIO World Congress on Industrial Biotechnology and Bioprocessing
10. Verenium to Present at MDB Capital Groups Bright Lights Conference
11. Verenium Announces Debt Repurchase
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/22/2014)... Research and Markets has announced the addition ... Reagents (Cloning, Epigenetics, PCR, Restriction Digestion, Sequencing) Market - ... The global molecular biology enzymes market was ... to grow at a CAGR of 13.74% to reach ... reagents find applications in a large number of fields ...
(Date:8/22/2014)... (PRWEB) August 22, 2014 The ... model organisms can be accelerated by exome sequencing. ... manufacturing technologies, the custom SeqCap EZ Developer system ... , Mr. Watson will additionally present how he ... commercially available human and mouse exome kits. With ...
(Date:8/21/2014)... 21, 2014 DNA vaccine pioneer ... its development of JRC-LAMP-vax, an innovative and safe potential ... IC studies began this month in Hawaii, moving the ... , The Japanese red cedar releases pollen that causes ... Mountain Cedar pollen wreaks similar havoc in Colorado, New ...
(Date:8/21/2014)... August 21, 2014 2014 ... Industryā€¯ is a professional and in-depth research ... report provides basic Seaweed Fertilizer information, including ... chain structure as well as industry overview. ... including domestic market as well as global ...
Breaking Biology Technology:Global Molecular Biology Enzymes, Kits, & Reagents (Cloning, Epigenetics, PCR, Restriction Digestion, Sequencing) Market - Forecast to 2018 2Global Molecular Biology Enzymes, Kits, & Reagents (Cloning, Epigenetics, PCR, Restriction Digestion, Sequencing) Market - Forecast to 2018 3Efficient Identification of Protein-Coding Variants in a Model Organism Through Exome Sequencing, New Webinar Hosted by Xtalks 2Relief for Allergy Sufferers Finally in Sight: Immunomic Therapeutics Closes in on Treatment for Hay Fever in Japan, U.S. 2Relief for Allergy Sufferers Finally in Sight: Immunomic Therapeutics Closes in on Treatment for Hay Fever in Japan, U.S. 3Relief for Allergy Sufferers Finally in Sight: Immunomic Therapeutics Closes in on Treatment for Hay Fever in Japan, U.S. 4Internationals Seaweed Fertilizer Industry 2014 Development Trend Analysis in New Research Study at DeepResearchReports.com 2Internationals Seaweed Fertilizer Industry 2014 Development Trend Analysis in New Research Study at DeepResearchReports.com 3
... GE Healthcare said it has installed its first volume ... be used exclusively by a cardiologist. , ,Round Rock Cardiology ... patients' hearts and nearby arteries. GE said the scans take ... 64 images, LightSpeed builds up a three-dimensional view. , ,The ...
... Thompson, former U.S. Health and Human Services secretary and ... executive positions since leaving his Cabinet post in January. ... Four accounting firm Deloitte & Touche USA; law partner ... Feld; and president of La Crosse-based Logistics Health Inc., ...
... office just recently and we didn't hire him. , ,It was a ... when he came to the interview: "Tell us what you know about ... just now, I am excited to learn more." A big, silent gong ... a prospective employer for anyone to fail to do so. Midwest technology ...
Cached Biology Technology:Tommy Thompson tackles the private sector in spades 2Hone your pre-interview skills or you may lose that tech job 2Hone your pre-interview skills or you may lose that tech job 3Hone your pre-interview skills or you may lose that tech job 4Hone your pre-interview skills or you may lose that tech job 5
(Date:8/22/2014)... is available in French . ... essential nutrients from African soils looming as a major threat ... today finds that over the last five years, 1.7 million ... have rejuvenated 1.6 million hectares and helped them double or ... for a Green Revolution in Africa (AGRA) focuses on intensive ...
(Date:8/22/2014)... Bethesda, MD FASEB MARC (Maximizing Access to Research ... the FASEB Grant Writing Seminar & Practical Exercises Workshop ... in Bethesda, Maryland from August 25-26, 2014. These ... postdoctorates and research scientists from underrepresented groups in the ... This year MARC conferred 11 awards totaling $20,350. ...
(Date:8/22/2014)... discoveries in basic and clinical research and technological ... a complex offensive spanning multiple fronts. , Work ... could help find new and more selective therapies ... targets a specific enzyme overexpressed in certain cancersand ... brain tumours. , Chemistry professor Christopher Cairo and ...
Breaking Biology News(10 mins):Effort to confront Africa's soil health crisis helps millions of farmers triple yields 2Effort to confront Africa's soil health crisis helps millions of farmers triple yields 3Effort to confront Africa's soil health crisis helps millions of farmers triple yields 4New enzyme targets for selective cancer therapies 2New enzyme targets for selective cancer therapies 3
... international research consortium has sequenced the genome of the ... Dec. 26 advance online edition of the journal ... possibilities for breeding tastier, hardier varieties of the berry ... the strawberry parts list," said the consortium,s leader Kevin ...
... COLLEGE PARK, Md. The latest success of Martek ... a decade ago in a plain, brick building on ... and early-stage nurturing from the university,s Maryland Technology Enterprise ... into a major international business. On December ...
... University of Arizona researchers may have found a way ... doses without harming healthy body cells. If successful, ... effective to destroy cancer cells and alleviate the harmful ... The invention by Marek Romanowski, an associate professor of ...
Cached Biology News:Georgia Tech team helps decode newly sequenced strawberry genome 2Georgia Tech team helps decode newly sequenced strawberry genome 3Tech firm joins the 'billion dollar club' -- with university help 2Tech firm joins the 'billion dollar club' -- with university help 3Invention could improve cancer drug delivery, lessen harmful effects of chemotherapy 2Invention could improve cancer drug delivery, lessen harmful effects of chemotherapy 3Invention could improve cancer drug delivery, lessen harmful effects of chemotherapy 4
...
... Deacetylase (HDAC) Antibody Sampler Kit Kit ... Catalog #2062, 40 ul Histone Deacetylase 3 ... Deacetylase 4 (HDAC4) Antibody, Catalog #2072, 40 ... #2082, 40 ul Histone Deacetylase 6 (HDAC6) ...
Recombinant Mouse Matrilin-4, CF Protein Family: Extracellular Matrix Molecules, Chondrogenesis Markers...
Immunogen: Synthetic Peptide: C N(185) D G T E F G G S I Y Q K(197) Storage: -20 C, Avoid Freeze/Thaw Cycles...
Biology Products: