Marrone Bio Innovations Announces Exercise of Over-Allotment Option in Public Offering of Common Stock
DAVIS, Calif., April 26, 2018 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (NASDAQ:MBII) (MBI or the “Company”), a leading provider of bio-based pest management and plant health products for the agriculture, turf and ornamental and water treatment markets, today announced that the underwriter of its previously announced public offering of registered shares of the Company’s common stock has fully exercised its option to purchase an additional 1,091,250 shares of common stock from the Company at the public offering price of $1.65 per share.
The over-allotment exercise resulted in additional gross proceeds to the Company of $1.8 million, for total gross proceeds from the offering of $13.8 million, and in anticipated additional net proceeds of $1.7 million, for total anticipated net proceeds from the offering of $12.7 million.
National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NHLD), acted as sole book-running manager for the offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Marrone Bio Innovations, Inc., and shall not constitute an offer, solicitation or sale of any security 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.
The securities described in the first and second paragraph above were offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-215024), including a base prospectus, previously filed with and declared effective by the Securities and Exchange Commission (SEC) on January 6, 2017. A final prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and accompanying base prospectus may be obtained by contacting the book-running manager at the following address:
National Securities Corporation
200 Vesey Street, 25th Floor
New York, NY 10281
Attn: Marguerite Rogers
About Marrone Bio Innovations
BIO WITH BITE.
Marrone Bio Innovations, Inc. (NASDAQ:MBII) strives to lead the movement to a more sustainable world through the discovery, development and promotion of biological products for pest management and plant health. MBI’s effective and environmentally responsible pest management solutions help customers operate more sustainably while uniquely improving plant health and increasing crop yields. MBI’s currently available commercial products are Regalia®, Grandevo®, Venerate®, Majestene®, Haven® StargusTM, AmplitudeTM, ZeltoTM and Zequanox®. MBI also distributes Bio-tam 2.0® for Isagro USA and Jet-Ag® for Jet Harvest in most regions of the U.S.
Marrone Bio Innovations is dedicated to pioneering smart biopesticide solutions that support a better tomorrow for both farmers, turf managers and consumers around the globe. For more information, please visit www.marronebio.com.
Marrone Bio Innovations Contacts:
Pam Marrone, CEO and Founder
Telephone: +1 (530) 750-2800
MZ Group – MZ North America
Source: Marrone Bio Innovations