Navigation Links
Verenium Announces Debt Repurchase
Date:7/28/2011

SAN DIEGO, July 28, 2011 /PRNewswire/ -- Verenium Corporation (NASDAQ: VRNM), a pioneer in the development and commercialization of high-performance industrial enzyme solutions, today announced that it repurchased approximately $5.2 million in principal amount of its 5.5% Notes and approximately $3 million in principal amount of 9% Notes.  

"We are very pleased to have taken another important step toward creating a capital structure that is appropriate to support the continued growth and success of the Company," said Jeffrey Black, Senior Vice President and Chief Financial Officer at Verenium.  

In total, the Company repurchased approximately $8.2 million in principal amount of its 5.5% and 9% Notes, leaving an aggregate of $36 million in principal amount of 5.5% and 9% Notes outstanding. To effect this repurchase, the Company paid a total of $7.7 million in cash to a single institutional investor, excluding accrued interest, as of the closing date.

About Verenium

Verenium, 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 www.verenium.com.

Forward-Looking Statements

Statements 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
Vice President, Corporate Communications
858-431-8580
kelly.lindenboom@verenium.com


'/>"/>
SOURCE Verenium Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Verenium Announces Signing of Lease for New Office and Lab Space
2. Verenium and Novus International Inc. Announce Agreement to Develop and Commercialize Animal Nutrition Enzymes
3. Verenium Receives CLARUS Award at MDB Capitals Bright Lights Conference 2011
4. Verenium to Present at Upcoming Conferences
5. Verenium to Speak at the 2011 BIO World Congress on Industrial Biotechnology and Bioprocessing
6. Verenium to Present at MDB Capital Groups Bright Lights Conference
7. Verenium Announces Debt Repurchase
8. Worlds Largest Soybean Processing Industrial Complex Converts Half of Capacity to Usage of Vereniums Purifine® PLC Enzymatic Degumming Process Engineered and Installed by Alfa Laval
9. Verenium Corporation to Announce Fourth Quarter and Year-End 2010 Financial Results
10. Verenium to Present at Jefferies 11th Global Clean Technology Conference
11. Verenium Announces Favorable Outcome of Capital Ventures International Lawsuit
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... KING OF PRUSSIA, PA (PRWEB) , ... December 01, 2016 , ... ... clinical research is through industry-wide collaboration, standardization and a beautiful technology experience. All three ... which convened more than 100 clinical trial leaders from over 40 sponsor, CRO and ...
(Date:12/2/2016)... ... 2016 , ... Robots will storm the Prudential Center in Boston, MA during ... which is held on the United Nations International Day of Persons with Disabilities, will ... workplace. Suitable Technologies is partnering with NTI to showcase how technology can help individuals ...
(Date:12/2/2016)... world leader in rapid infectious disease tests, introduced the Company,s newest product, the INSTI ... (Photo: http://photos.prnewswire.com/prnh/20161201/444905 ) Continue Reading ... ... , bioLytical was invited by the Clinton ... HIV Self Test to 350 pharmacy representatives in Nairobi and ...
(Date:11/30/2016)... , November 30, 2016 The global ... few players hold a dominant share in the overall ... Laboratories International, Inc., and Merck KGaA, held a lion,s ... Transparency Market Research observes that these companies are expected ... development products that are do not require rabbit pyrogen ...
Breaking Biology Technology:
(Date:11/15/2016)... Nov. 15, 2016  Synthetic Biologics, Inc. (NYSE ... focused on the gut microbiome, today announced the ... shares of its common stock and warrants to ... a price to the public of $1.00 per ... Biologics from the offering, excluding the proceeds, if ...
(Date:6/22/2016)...  The American College of Medical Genetics and Genomics was ... as one of the fastest-growing trade shows during the Fastest ... in Las Vegas . ... in each of the following categories: net square feet of ... attendees. The 2015 ACMG Annual Meeting was ranked 23 out ...
(Date:6/16/2016)... 2016 The global ... reach USD 1.83 billion by 2024, according to ... Technological proliferation and increasing demand in commercial buildings, ... drive the market growth.      (Logo: ... development of advanced multimodal techniques for biometric authentication ...
Breaking Biology News(10 mins):