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:5/23/2017)... ... May 23, 2017 , ... Kathy ... President of Clinical Operations. She brings years of expertise in establishing and leading ... professional foundation as a licensed occupational therapist, through a variety of leadership roles ...
(Date:5/22/2017)... ... May 22, 2017 , ... Stratevi, a boutique firm that partners with ... It has opened an office in downtown Boston at 745 Atlantic Ave. , ... important to generate evidence on the value they provide, not just to patients, but ...
(Date:5/21/2017)... ... May 20, 2017 , ... CNSDose is a ... and error process by finding the right antidepressant faster. CNSDose speeds recovery ... relationship through a personalized approach to treatment. , A peer-reviewed and ...
(Date:5/18/2017)... California (PRWEB) , ... May 18, 2017 , ... ... team-building activities. The Tapas Cooking Challenge is a two-hour team-building package designed ... delicious menu created by Chef Jodi Abel, which include items, such as Blackened ...
Breaking Biology Technology:
(Date:4/19/2017)... The global military biometrics market ... by the presence of several large global players. The ... major players - 3M Cogent, NEC Corporation, M2SYS Technology, ... 61% of the global military biometric market in 2016. ... military biometrics market boast global presence, which has catapulted ...
(Date:4/11/2017)... April 11, 2017 Crossmatch®, a globally-recognized ... solutions, today announced that it has been awarded ... Projects Activity (IARPA) to develop next-generation Presentation Attack ... "Innovation has been a driving force within ... will allow us to innovate and develop new ...
(Date:4/5/2017)... , April 5, 2017  The Allen Institute ... Allen Cell Explorer: a one-of-a-kind portal and dynamic digital ... 3D imaging data, the first application of deep learning ... human stem cell lines and a growing suite of ... platform for these and future publicly available resources created ...
Breaking Biology News(10 mins):