Mar. 18, 2019
March 15, Yield10 Bioscience, Inc. (Nasdaq:YTEN), a Company developing new technologies to create step-change improvements in crop yield to enhance global food security, announced that it has entered into a securities purchase agreement with certain institutional investors and existing investor Jack W. Schuler, providing for the purchase and sale of 2,421,662 shares of common stock at $1.2101 per share in a registered direct offering, resulting in total gross proceeds of approximately $2.9 million. The price per share was equal to the closing price of the common stock on the Nasdaq Capital Market on March 13, 2019. The closing of the sale of the shares is expected to take place on or about March 18, 2019, subject to the satisfaction of customary closing conditions.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., (NYSE American:LTS) is acting as exclusive placement agent for the registered direct offering.
The shares of common stock were offered pursuant to a shelf registration statement on Form S‑3 (File No. 333-217051), which was declared effective by the United States Securities and Exchange Commission ("SEC") on April 12, 2017.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A prospectus supplement relating to the shares of common stock will be filed by Yield10 Bioscience with the SEC. When available, copies of the prospectus supplement, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Ladenburg Thalmann & Co. Inc., Prospectus Department, 277 Park Avenue, 26th Floor, New York, New York 10172 or by email at email@example.com.