Key Developments: Solazyme Inc (SZYM.O)
11.14USD
24 May 2013
$0.44 (+4.11%)
$10.70
$10.60
$11.49
$10.60
668,352
600,171
$14.34
$6.45
Latest Key Developments (Source: Significant Developments)
Akzo Nobel NV Signs Agreement With Solazyme Inc-DJ
Dow Jones reported that Akzo Nobel NV has signed an agreement with United States-based Solazyme Inc to collaborate on the development of tailored oils and the commercial sales of tailored oils on short term. The product development is expected to be started in the second half of 2013. Financial terms were not disclosed. Full Article
Solazyme Inc Reaffirms FY 2013 Revenue Guidance-Conference Call
Solazyme Inc announced that it continue to expect overall revenue growth of approximately 25% in fiscal 2013. The Company reported revenue of $44.11 million in fiscal 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $54.20 million for fiscal 2013. Full Article
Solazyme Inc Issues FY 2013 Revenue Guidance Below Analysts' Estimates-Conference Call
Solazyme Inc announced that for fiscal 2013, it expects overall revenue growth of approximately 25%. The Company reported revenue of $44.11 million in fiscal 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $82.05 million for fiscal 2013. Full Article
Solazyme Inc And Mitsui Enter Into Multi-Year Agreement To Jointly Develop New Suite Of Tailored Algal Oils
Solazyme Inc announced that they have entered into a $20 million multi-year agreement to jointly develop a suite of triglyceride oils for use primarily in the oleochemical industry. The agreement includes further development of Solazyme's high myristic algal oil, a valuable raw material in the oleochemical industry, as well as additional oils that Solazyme is developing for the oleochemical and industrial sectors. Product development is expected to span a multi-year period, with periodic product introductions throughout the term of the joint development alliance. End use applications may include renewable, high-performance polymer additives for plastic applications, aviation lubricants, and toiletry and household products. Full Article
Solazyme Inc Closes Offering Of Convertible Senior Subordinated Notes
Solazyme Inc announced that the closing of its offering of 6% Convertible Senior Subordinated Notes due 2018 (the Notes) in a private offering pursuant to Rule 144A under the Securities Act of 1933, as amended. The issuance of $125 million aggregate principal amount of Notes includes the exercise in full by Goldman Sachs & Co., sole book-running manager for the offering, of its option to purchase $10 million aggregate principal amount of Notes to cover over-allotments. Solazyme has received aggregate net proceeds from the sale of the Notes of approximately $119.4 million, after deducting discounts to the initial purchaser and estimated offering expenses payable by Solazyme. Solazyme intends to use the net proceeds of the offering to fund project related costs and capital expenditures and for general corporate purposes. Full Article
Solazyme Inc Prices Offering of $115 Million of 6.00% Convertible Senior Subordinated Notes
Solazyme Inc announced the pricing of its offering of $115 million aggregate principal amount of Convertible Senior Subordinated Notes due 2018 (the Convertible Notes) in a private placement under the Securities Act of 1933, as amended (the Securities Act). Solazyme also granted the initial purchaser a 30-day option to purchase up to an additional $10 million aggregate principal amount of Convertible Notes solely to cover over-allotments. The sale of the Convertible Notes is expected to close on January 24, 2013, subject to customary closing conditions. Solazyme expects that the net proceeds from this offering will be approximately $109.8 million, after deducting discounts to the initial purchaser and estimated offering expenses payable by Solazyme. Solazyme intends to use the net proceeds of the offering to fund project related costs and capital expenditures and for general corporate purposes. The Convertible Notes will bear interest at a fixed rate of 6.00% per year, payable semiannually in arrears on August 1 and February 1 of each year, beginning on August 1, 2013. The Convertible Notes will mature on February 1, 2018, unless earlier repurchased or converted. Solazyme may not redeem the Convertible Notes prior to maturity. Full Article
Solazyme Inc Announces Proposed Offering of $100 Million of Convertible Senior Subordinated Notes
Solazyme Inc announced that it intends to offer, subject to market and other considerations, $100 million aggregate principal amount of Convertible Senior Subordinated Notes due 2018 (the Convertible Notes) in a private placement under the Securities Act of 1933, as amended (the Securities Act). Solazyme also intends to grant to the initial purchaser of the Convertible Notes a 30-day option to purchase up to an additional $15 million aggregate principal amount of the Convertible Notes solely to cover over-allotments. Solazyme intends to use the net proceeds of the offering to fund project related costs and capital expenditures and for general corporate purposes. The Convertible Notes will be general unsecured obligations of Solazyme and will be subordinated in right of payment to its Senior Debt (as defined in the indenture governing the Convertible Notes). The Notes will be convertible into shares of the Company`s common stock, par value $0.001 per share, at the then-applicable conversion rate until the close of business on the scheduled trading day immediately preceding maturity. The Notes will not be redeemable at the Company`s option prior to maturity. The interest rate, conversion rate and other terms of the Convertible Notes will be determined at the time of pricing of the offering. Full Article
Solazyme Inc Issues FY 2012 Revenue Guidance Below Analysts' Estimates-Conference Call
Solazyme Inc announced that for fiscal 2012, it expects fiscal 2012 revenues to be up approximately 15% compared to fiscal 2011 to $44 million on the year. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $47 million for fiscal 2012. Full Article
Solazyme Inc Lowers Low End Of Prior FY 2012 Revenue Guidance-Conference Call
Solazyme Inc announced that for fiscal 2012, the Company had expected overall revenue to be up 25% to 30% over fiscal 2011. Based on its current view of prospects for near-term government contracts, the Company now expect its fiscal 2012 revenues to be up approximately 15% to 30% from fiscal 2011 or between $44 million and $50 million. Full Article
Solazyme Inc Reaffirms FY 2012 Revenue Guidance-Conference Call
Solazyme Inc announced that it is maintaining the guidance for fiscal 2012, and expects revenues to be up 25%-30% to approximately $50 million. Full Article
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