Verenium Has Buyout Offers | Chemical & Engineering News
Volume 90 Issue 11 | p. 28 | Concentrates
Issue Date: March 12, 2012

Verenium Has Buyout Offers

Department: Business
Keywords: debt refinance, enzymes, biofuels

Verenium, a San Diego maker of enzymes for biofuels production, is evaluating buyout offers from more than one company as part of an effort to refinance its debt. The company plans to repurchase $34.9 million of its convertible bonds from noteholders on April 2 if it can raise sufficient cash to complete the transaction. In addition to a possible sale of the company, Verenium is exploring issuing new securities to provide the cash to buy back the bonds.

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