BioAmber announces exercise in full of underwriters' option in connection with previously priced follow-on offering
Jul 23, 2014
MINNEAPOLIS, July 23, 2014 /CNW Telbec/ - BioAmber Inc. (NYSE: BIOA), an industrial biotechnology company producing sustainable chemicals, today announced that the underwriters of its common stock offering exercised in full their option to purchase an additional 420,000 shares of common stock at the public offering price of $12.00 per share, less underwriting discounts and commissions, in connection with its previously announced underwritten public offering of 2,800,000 shares of common stock, bringing the expected net proceeds from the offering to approximately $35.8 million, after deducting expenses of BioAmber and underwriting discounts and commissions. The sale of the 2,800,000 shares closed on July 21, 2014, and the sale of the additional 420,000 shares is expected to close on July 24, 2014, subject to customary closing conditions.
Credit Suisse Securities (USA) LLC and Canaccord Genuity Inc. are acting as the bookrunning managers for the offering.
BioAmber intends to use the net proceeds of the offering for working capital and other general corporate purposes.
The securities described above were offered by BioAmber pursuant to a shelf registration statement on Form S-3 (No. 333-196470), including a base prospectus, previously filed and declared effective by the Securities and Exchange Commission (the "SEC"). A final prospectus supplement related to the offering was filed with the SEC on July 16, 2014 and is available on the SEC's website located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the securities offered may also be obtained by contacting: Credit Suisse Securities (USA) LLC by mail at One Madison Avenue, New York, New York 10010, Attention: Prospectus Department, or by calling toll free (800) 221-1037, or by emailing email@example.com; and Canaccord Genuity Inc. by mail at 99 High Street, 12th Floor, Boston, MA 02110, Attention: Syndicate Department, or by calling (617) 371-3900.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About BioAmber Inc.
BioAmber (NYSE: BIOA) is an industrial biotechnology company producing sustainable chemicals. Its proprietary technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstock into sustainable chemicals for use in a wide variety of everyday products including plastics, resins, food additives and personal care products.
BioAmber Inc. Safe Harbor Statement
This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties about BioAmber Inc. ("BioAmber"). For additional disclosure regarding other risks faced by BioAmber, see disclosures contained in BioAmber's public filings with the SEC including, the "Risk Factors" section of BioAmber's most recent filings and in the prospectus supplement for this offering. You should consider these factors in evaluating the forward-looking statements included in this communication and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof, and BioAmber undertakes no obligation to update such statements as a result of new information.
SOURCE BioAmber Inc.
For further information: BioAmber Investor Contact, Michael Rice, LifeSci Advisors, LLC, 1350 Avenue of the Americas 28th Floor, New York, NY 10019, 646-597-6979, firstname.lastname@example.org