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:1/22/2015)... 2015 GEA Niro Soavi the leader ... homogenizer, the PandaPLUS 2000, which is ideal for new ... cell disruption . This compact laboratory homogenizer is ... liquid food, food additives and ingredients as well as ...
(Date:1/22/2015)... Crystal Diagnostics (CDx) Xpress System, a rapid ... AOAC-PTM Certifications for the six non-O157 Shiga toxin-producing E. coli ... to as STEC or the “Big-6”) as well as Escherichia ... per 325 g of raw ground beef and raw beef ...
(Date:1/22/2015)... Selexis SA, a serial innovation company with ... used for drug discovery to commercial manufacturing, announced today ... Next-Generation Sequencing (NGS) data packages. The NGS analysis ... ensuring the integrity of the gene, validation of the ...
(Date:1/22/2015)... 22, 2015   GenoSpace , a precision medicine software company ... the broad use of genomic, imaging and other biomedical data ... Michelle Munson , CEO of Aspera, an IBM Company, ... - http://photos.prnewswire.com/prnh/20150122/170713 "We are pleased ...
Breaking Biology Technology:GEA Niro Soavi Announces the PandaPLUS 2000 Homogenizer for Processing New Applications for Nanoemulsions and Cell Disruption 2Crystal Diagnostics Awarded AOAC-PTM Accreditation for the Rapid Detection of “Big 6” E.coli Food Pathogens 2Selexis Generated Research Cell Banks Now Fully Sequenced Using Next-Generation Sequencing 2GenoSpace Expands Board with Appointment of Michelle Munson 2
... Calif., March 6 Finesse Solutions, LLC, Santa Clara, ... life sciences process applications, announced the technical demonstration of ... at Interphex in New York on March 17, 2009.The ... consisting of a disposable sheath, an optical reader, and ...
... SEATTLE, March 6 Cell Therapeutics, Inc. (CTI) (Nasdaq ... a letter from The NASDAQ Stock Market indicating that ... the listing of the Company,s common stock on The ... or before April 6, 2009, the Company demonstrate compliance ...
... 6 Irvine Scientific, a leading medical device/biopharmaceutical company ... the addition of IS CHO-CD XP(TM) Culture System to ... Culture System is a set of chemically-defined*, serum-free, and ... deliver robust cell growth and production for recombinant CHO ...
Cached Biology Technology:Finesse Demonstrates TruFluor(TM) pH, a Single-Use Optical pH Sensor and Transmitter 2Cell Therapeutics Announces Receipt of NASDAQ Listing Update 2Cell Therapeutics Announces Receipt of NASDAQ Listing Update 3Irvine Scientific Launches IS CHO-CD XP(TM) 2
(Date:12/19/2014)... 2014  23andMe, Inc., the leading personal genetics company, today announced ... genetic ancestry of individuals from across the United ... than four hundred years ago, the United States ... from different continents. This study illuminates how American history and ...
(Date:12/17/2014)... Dec. 16, 2014 Valencell, a leader in performance ... technology to industry leaders such as Intel, Jabra, Atlas, ... biometric wearable products. These products will be showcased at ... Las Vegas . "Our partners ...
(Date:12/11/2014)... , Dec. 09, 2014 Research and Markets ... ( http://www.researchandmarkets.com/research/9ql3kr/biometrics_market ) has announced the addition of the ... their offering. One major trend emerging ... systems. Multimodal biometric systems utilize more than one characteristic ...
Breaking Biology News(10 mins):23andMe Study Sketches Genetic Portrait of the United States 223andMe Study Sketches Genetic Portrait of the United States 323andMe Study Sketches Genetic Portrait of the United States 4Valencell PerformTek Biometrics Power the Most Accurate Wearables at CES 2015 2Biometrics Market in India 2015-2019: Key Vendors are 3M Cogent, NEC, Safran and Suprema 2
... The most robust statistical examination to date of our species, ... all living humans -- confirms that she lived about 200,000 ... side-by-side comparison of 10 human genetic models that each aim ... of assumptions about the way humans migrated, expanded and spread ...
... lead to a brand new class of drugs to treat ... back pain without numbing the whole body. The ... (BBSRC) and working at UCL (University College London), have shown ... are regulated by molecules inside cells called small RNAs. This ...
... the best of times, but plants have an extra difficulty. If ... and reproduce, you will want your flowerstalks to be long. That ... But if your stalk is too long, you,ll stand out to ... used to be thought that carnivorous plants like Sundews had the ...
Cached Biology News:Mother of all humans lived 200,000 years ago 2Mother of all humans lived 200,000 years ago 3Scientists uncover Achilles heel of chronic inflammatory pain 2Sundews just want to be loved 2
...
ChIP-GLAS kit for H10K-B microarray chips. Contains ChIP kit, GLAS kit, and hybridization kit. Additional reagents are required. Please see manual for details. Contains sufficient reagent for 20 reac...
BD BaculoGoldTM Transfection Kit 5 transfections...
...
Biology Products: