CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Metabolix, Inc. (NASDAQ: MBLX), a bioscience company focused on
developing sustainable solutions for plastics, chemicals and energy,
today announced that it has commenced a public offering of shares of its
common stock pursuant to the Company's effective shelf registration
statement filed with the U.S. Securities and Exchange Commission (the
"SEC"). J.P. Morgan Securities LLC will serve as the sole book-running
manager and Stifel Nicolaus Weisel will serve as the co-manager for this
offering. The Company expects to offer 4.75 million newly issued shares.
The underwriters also have the option to purchase up to an additional
15% percent of the offered amount of common stock from the Company at
the public offering price, less underwriting discounts and commissions,
within 30 days, to cover over-allotments, if any. The offering is
subject to market conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual size
or terms of the offering. The Company intends to use the net proceeds it
receives from the offering for working capital and other general
corporate purposes.
The shares will be issued pursuant to an effective shelf registration
statement that was previously filed with the SEC and was declared
effective on May 9, 2011. A preliminary prospectus supplement related to
the offering has been filed with the SEC and is available on the SEC's
website http://www.sec.gov.
Copies of the prospectus supplement relating to these securities may be
obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or via telephone
at: (866) 803-9204.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Metabolix
Founded in 1992, Metabolix, Inc. is an innovation-driven bioscience
company focused on providing sustainable solutions for the world's needs
for plastics, chemicals and energy. The Company is taking a systems
approach, from gene to end product, integrating sophisticated
biotechnology with advanced industrial practice. Metabolix is now
developing and commercializing Mirel™, a family of high performance
bioplastics, which are biobased and biodegradable alternatives to many
petroleum—based plastics, through Telles, a joint venture between
Metabolix and Archer Daniels Midland Company. Metabolix is also
developing biosourced industrial chemicals and a proprietary platform
technology for co-producing plastics, chemicals and energy, from crops
such as switchgrass, oilseeds and sugarcane. (MBLX-G)
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements which are made
pursuant to the safe harbor provisions of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. The forward-looking statements in this release do
not constitute guarantees of future performance. Investors are cautioned
that statements in this press release which are not strictly historical
statements, including, without limitation, statements regarding
expectations for Metabolix research and development programs, constitute
forward-looking statements. Such forward-looking statements are subject
to a number of risks and uncertainties that could cause actual results
to differ materially from those anticipated and are detailed in
Metabolix's filings with the Securities and Exchange Commission.
Metabolix assumes no obligation to update any forward-looking
information contained in this press release or with respect to the
announcements described herein.
Media:
Schwartz Communications
Keith Giannini / Jen
Barlow, 781-684-0770
metabolix@schwartzcomm.com
or
Investors:
ICR
James
Palczynski, 203-682-8229
james.palczynski@icrinc.com
Source: Metabolix, Inc.
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