Marrone Bio Announces Warrant Exchange Agreement
Marrone Bio Innovations, Inc. (MBII)
Last marrone bio innovations, inc. earnings: 11/12 04:05 pm
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US:NASDAQ Investor Relations:
investors.marronebio.com/investor-relations
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Source: GlobeNewswire
DAVIS, Calif., April 30, 2020 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (Nasdaq: MBII) (the “Company” or “Marrone Bio”) an international leader in sustainable bioprotection and plant health solutions, has signed a warrant exchange agreement with existing institutional investors that immediately reduces the total number of outstanding warrants by approximately 35%, from 52.6 million to 36.5 million. The warrant exchange transaction was entered into between the Company and existing investors Waddell & Reed, Ospraie Ag Science LLC, Ardsley Partners Renewable Energy Fund, L.P., National Securities Corporation and Ivan Saval. Under the agreement, 46.0 million warrants have been exchanged for 29.9 million new warrants with an exercise price of $0.75 per share. The new warrants have five different expiration dates. Three of these warrant tranches have expiration dates throughout 2020 and will provide approximately $14.4 million in net proceeds if exercised in full, with t
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