SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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Item 1.02. Termination of a Material Definitive Agreement
On May 3, 2023, Yield10 Bioscience, Inc. (the “Company”) terminated its Equity Distribution Agreement, dated January 23, 2023 (“Distribution Agreement”), with Maxim Group LLC (the “Agent”), pursuant to which the Company could from time to time offer and sell up to an aggregate of $4,200,000 of shares of its common stock subject to any applicable limits when using Form S-3, through the Agent in “at-the-market-offerings” (the “ATM Program”), as defined in Rule 415 under the Securities Act of 1933, as amended. Prior to termination, the Company issued and sold 94,665 shares of its common stock under the Distribution Agreement, raising net proceeds of approximately $290,440.27. The Company terminated the Distribution Agreement because it does not intend to raise additional capital through the ATM Program.
The foregoing description of the Distribution Agreement is not complete and is qualified in its entirety by reference to the full text of the Distribution Agreement, a copy of which was filed as Exhibit 1.1 to the Company’s Current Report on Form 8-K (File No. 001-33133) filed with the Securities and Exchange Commission on January 24, 2023 and incorporated herein by reference.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|YIELD10 BIOSCIENCE, INC.|
|Date: May 3, 2023||By:||/s/ Oliver P. Peoples|
|Oliver P. Peoples|
|President & Chief Executive Officer|