Fenwick represented Amyris (Nasdaq: AMRS), a leading synthetic biotechnology company active in the clean health and beauty markets through its consumer brands and a top supplier of sustainable and natural ingredients, in its underwritten public offering of an aggregate of 19,047,619 shares of its common stock at a public offering price of $15.75 per share, which consisted of a secondary offering of 11,390,797 shares to be sold, in the aggregate, by DSM International B.V. and affiliates of Vivo Capital LLC (the selling stockholders) and 7,656,822 shares sold by Amyris.
The selling stockholders and Amyris granted the underwriters a 30-day option to purchase up to an additional 2,857,142 shares of Amyris common stock at the public offering price, less underwriting discounts and commissions, which was exercised in full. Pursuant to this 30-day option, 1,708,619 shares were sold by the selling stockholders and 1,148,523 shares were sold by Amyris.
Amyris did not receive any proceeds from the sale of common stock in the secondary offering by the selling stockholders. Amyris estimates that net proceeds from the offering were approximately $130.7 million (inclusive of the underwriters’ option to purchase additional shares), after deducting underwriting discounts and commissions and estimated offering expenses payable by Amyris.
J.P. Morgan Securities LLC and Cowen and Company, LLC acted as the joint bookrunning managers for the offering. More information can be obtained from the company's announcement.
Fenwick represented Amyris in its initial public offering in 2010.
The Fenwick transaction team was led by corporate partner Amanda Rose and included associates Ryan Mitteness, David Kryzanovsky, Derrick Chapman and Anja Kong.