Amyris exceeds previous debt deduction goal of $75 million — $86 million in debt retired

EMERYVILLE, Calif., May 22, 2017 (GLOBE NEWSWIRE) — Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announced it has already exceeded the debt reduction goal the company stated in its May 8, 2017 announcements regarding equity financings provided by Koninklijke DSM N.V. (Royal DSM)(AEX:DSM.AS) and investors and its plans to reduce its debt by approximately $75 million. To date, $86 million in debt has been retired. Of this amount, approximately $20 million was from long term convertible bonds that converted at prices significantly higher than the company’s current stock price and ranging from $1.14 to $2.24 per share based on previously set conversion prices associated with these notes.

“We are pleased to have already exceeded our previously stated goal of reducing our debt by approximately $75 million and to have done so in such a short time,” said John Melo, Amyris President & CEO.

Continued Melo, “We continue to lead the industry in revenue growth and product sales and are very pleased with the continued expansion of collaborations that provide us with a strong and sustainable product pipeline and commercial execution that we expect will continue delivering very strong product revenue. Our continued operational performance combined with strong cash position and much improved balance sheet enable us to deliver on our growth plan.”

About Amyris
Amyris is the integrated renewable products company that is enabling the world’s leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules and produce specialty ingredients and consumer products. The company is delivering its No Compromise® products across a number of markets, including specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals. More information about the company is available at www.amyris.com.

Contact:
Peter DeNardo
Director, Investor Relations and Corporate Communications
Amyris, Inc. 
+1 (510) 740-7481
[email protected]
[email protected]