Key Developments For Metabolix Inc
Metabolix Inc (MBLX.O) (Consolidated Issue listed on NASDAQ Global Market)
Metabolix, Inc. Announces Completion of Common Stock Offering
Metabolix, Inc. announced the completion of its previously announced underwritten public offering of 3,450,000 shares of its common stock at a price of $9.00 per share for gross proceeds of approximately $31 million. The aggregate number of shares sold reflects the exercise in full by the underwriters of their over-allotment option to purchase an additional 450,000 shares of common stock. The Company received net proceeds of approximately $29 million, after deducting underwriting discounts and commissions and estimated offering expenses. Jefferies & Company and Thomas Weisel Partners LLC served as the underwriters for this offering. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes.
Metabolix, Inc. Prices Common Stock Offering
Metabolix, Inc. announced that it has priced a public offering of 3.0 million newly issued shares of its common stock at a public offering price of $9.00 per share. The gross proceeds to Metabolix, before underwriting discounts and commissions and other offering expenses, from the sale of the shares are expected to be approximately $27 million. Jefferies & Company and Thomas Weisel Partners LLC are the underwriters for this offering. The Company has granted the underwriters a 30-day option to purchase up to 450,000 additional shares to cover over-allotments, if any. If the underwriters exercise their over-allotment option in full, gross proceeds from the offering, before underwriting discounts and commissions and other offering expenses, will be approximately $31 million. The offering is expected to close on November 16, 2009, subject to customary closing conditions. 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 Securities and Exchange Commission (SEC) and was declared effective on January 30, 2008.
Metabolix, Inc. Announces Commencement of Public Offering of Common Stock
Metabolix, Inc. 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). Jefferies & Company and Thomas Weisel Partners LLC will serve as the underwriters for this offering. The underwriters also have the option to purchase up to an additional 15% 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.
Metabolix, Inc. Announces Pharmafilter Will Use Mirel Bioplastics In Hospital Waste Management System
Metabolix, Inc. announced that Pharmafilter BV, has selected Mirel bioplastics for a suite of disposable products for hospital use. Pharmafilter BV is currently commercializing its patented Pharmafilter system as a cleaner, more efficient way for hospitals and the healthcare industry to reduce contaminated solid waste, food, and wastewater through anaerobic digestion. The initial range of single use products to be made from Mirel include: service ware items, bed pans and trash bags. Use of such disposable products made from Mirel can mitigate the need for reusable items, thus reducing human contact with contaminated service ware and its related safety concerns. Mirel products will be disposed of along with the hospital and healthcare wastes, and fed to the Pharmafilter system. The initial pilot project is scheduled to begin operation in March 2010 at Delft Hospital in Amsterdam.
Metabolix, Inc. Adopts Shareholder Rights Plan
Metabolix, Inc. announced that its Board of Directors has adopted a Shareholder Rights Plan. In connection with the adoption of the Shareholder Rights Plan, the Board of Directors declared a dividend distribution of one preferred stock purchase right for each outstanding share of Metabolix common stock to shareholders of record as of the close of business on July 8, 2009. Initially, these rights will not be exercisable and will trade with the shares of Metabolix common stock. Under the Shareholder Rights Plan, the rights generally will become exercisable if a person becomes an acquiring person by acquiring 15% or more of the common stock of Metabolix or if a person commences a tender offer that could result in that person owning 15% or more of the common stock of Metabolix. If a person becomes an acquiring person, each holder of a right (other than the acquiring person) would be entitled to purchase, at the then-current exercise price, such number of shares of preferred stock which are equivalent to shares of Metabolix common stock having a value of twice the exercise price of the right. If Metabolix is acquired in a merger or other business combination transaction after any such event, each holder of a right would then be entitled to purchase, at the then-current exercise price, shares of the acquiring company's common stock having a value of twice the exercise price of the right.
