Metabolix (MBLX) Announces 3M Common Share Offering at $9/Share
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Metabolix, Inc. (NASDAQ: MBLX) today announced that it has priced a public offering of 3.0 million newly issued shares of its common stock at a public offering price of $9.00 per share. The gross proceeds to Metabolix, before underwriting discounts and commissions and other offering expenses, from the sale of the shares are expected to be approximately $27 million.
Jefferies & Company and Thomas Weisel Partners LLC are the underwriters for this offering. The Company has granted the underwriters a 30-day option to purchase up to 450,000 additional shares to cover over-allotments, if any. If the underwriters exercise their over-allotment option in full, gross proceeds from the offering, before underwriting discounts and commissions and other offering expenses, will be approximately $31 million. The offering is expected to close on November 16, 2009, subject to customary closing conditions.
The Company intends to use the net proceeds it receives from the offering for working capital and other general corporate purposes.
Jefferies & Company and Thomas Weisel Partners LLC are the underwriters for this offering. The Company has granted the underwriters a 30-day option to purchase up to 450,000 additional shares to cover over-allotments, if any. If the underwriters exercise their over-allotment option in full, gross proceeds from the offering, before underwriting discounts and commissions and other offering expenses, will be approximately $31 million. The offering is expected to close on November 16, 2009, subject to customary closing conditions.
The Company intends to use the net proceeds it receives from the offering for working capital and other general corporate purposes.
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