Amyris, Inc. (NASDAQ:AMRS) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item2.03
|
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information contained in Item8.01 below is incorporated
herein by reference.
| Item 8.01 | Other Events. |
As previously reported, on November 10, 2016, Amyris, Inc. (the
Company) entered into a Purchase and
Sale Agreement (the PSA) with
Glycotech, Inc. (Glycotech) and
Salisbury Partners, LLC (Salisbury and,
together with Glycotech, the Sellers)
relating to the purchase by the Company of a production facility
in Leland, North Carolina (the
Facility), the real property on which
the Facility is located and the fixtures, equipment, materials
and supplies and other tangible assets located at or used in
connection with the Facility (collectively, the
Assets) from the Sellers. The entry
into the PSA was previously reported in a Current Report on Form
8-K filed by the Company with the Securities and Exchange
Commission on November 16, 2016, which is incorporated herein by
reference.
On December 5, 2016, the Company and the Sellers closed the
purchase and sale of the Assets to the PSA. In connection
therewith, the Company purchased the Assets from the Sellers for
an aggregate purchase price of $4.35 million, of which $3.5
million was paid in the form of a purchase money promissory note
(the Note) issued by the Company in
favor of Salisbury. The Note (i) bears interest at a rate of 5%
per year, (ii) has a term of 13 years, (iii) is payable in equal
monthly installments of principal and interest beginning on
January 1, 2017 (which payments are subject to a penalty of 5% if
delinquent more than 5 days) and (iv) is secured by a purchase
money lien on the Facility, the real property on which the
Facility is located and the fixtures located at the Facility or
on such real property. The Note contains customary terms and
provisions, including certain events of default after which the
Note may become immediately due and payable.
In connection with the closing of the purchase and sale of the
Assets, the existing lease of the Facility between Glycotech and
Salisbury and the existing production services agreement between
the Company and Glycotech were terminated and the existing Right
of First Refusal Agreement between the Company and Salisbury
relating to the Facility and the site leased by Glycotech from
Salisbury was modified such that the Companys right of first
refusal with respect to the sale of certain parcels of real
property owned by Salisbury adjacent to the Facility would be an
appurtenant right running with the ownership of the real property
on which the Facility is located.
About Amyris, Inc. (NASDAQ:AMRS)
Amyris, Inc. is an integrated industrial biotechnology company. The Company is engaged in research and development and sales of fuels and farnesene-derived products. It is applying its industrial synthetic biology platform to engineer, manufacture and sell products into a range of consumer and industrial markets, including cosmetics, flavors and fragrances (F&F), solvents and cleaners, polymers, lubricants, healthcare products and fuels. The Company focuses on a renewable hydrocarbon molecule called farnesene (Biofene). The Company is expanding its range of products across various categories divided into consumer and industrial applications. For consumer applications, the Company is developing and selling personal care products (which include ingredients for cosmetics and F&F), healthcare products and formulated end user products, such as Biossance brand skincare products and Muck Daddy brand hand cleaner product. Amyris, Inc. (NASDAQ:AMRS) Recent Trading Information
Amyris, Inc. (NASDAQ:AMRS) closed its last trading session up +0.025 at 0.800 with 1,272,527 shares trading hands.