YIELD10 BIOSCIENCE, INC. (NASDAQ:YTEN) Files An 8-K Submission of Matters to a Vote of Security Holders

On January 9, 2020, Yield10 Bioscience, Inc. (the “Company”) held a special meeting of its stockholders (the “Special Meeting”). As of November 15, 2019, the record date for the Special Meeting, there were 12,567,582 shares of the Company’s common stock outstanding and entitled to vote. At the Special Meeting, the holders of 10,633,940 shares of the Company’s common stock were present in person or represented by proxy, which represented 84.61% of the total shares entitled to vote at the Special Meeting.

A summary of the matters voted upon by the stockholders at the Special Meeting, each of which is described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on December 5, 2019, and the final voting results for each matter are set forth below.

Proposal 1 – Reverse Stock Split:

Stockholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation, as amended, to effect a reverse stock split of the Company’s issued and outstanding shares of common stock, at a ratio of between 1-for-20 and 1-for-50. The voting results for this proposal were as follows:

The Company is taking steps to implement the reverse stock split. The warrants to purchase common stock issued in the Company’s financing completed on November 19, 2019 will not be exercisable until the time that the reverse stock split takes effect. The ratio and effective date of the reverse stock split will be reported on a separate Current Report on Form 8-K.

Proposal 2 – Issuance of Common Stock:

Stockholders approved the potential issuance of more than 2,500,948 shares of the Company’s common stock upon the conversion of shares of its Series B Convertible Preferred Stock and the exercise of warrants to purchase its common stock, all of which were issued to the private placement that closed on November 19, 2019. The voting results for this proposal were as follows:

About YIELD10 BIOSCIENCE, INC. (NASDAQ:YTEN)

Yield10 Bioscience, Inc., formerly Metabolix, Inc., is an agricultural bioscience company. The Company is focused on developing disruptive technologies for step-change improvements in crop yield for food and feed crops to enhance global food security. By working on new approaches to improve fundamental elements of plant photosynthetic efficiency and optimizing carbon metabolism to direct more carbon to seed production, the Company is advancing several yield traits it has developed in crops, such as Camelina, canola, soybean and corn. The Company concentrates on technologies that enables it to improve carbon dioxide fixation efficiency in photosynthesis and its direction to and conversion into plant matter. The Company has an additional agricultural science facility with greenhouses in Saskatoon, Saskatchewan, Canada.