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Solazyme, Inc. Closes Offering Of Convertible Senior Subordinated Notes

Stocks in this article: SZYM

Solazyme, Inc. (NASDAQ: SZYM) announced today 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.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

About Solazyme, Inc.

Solazyme, Inc. (SZYM) is a renewable oil and bioproducts company that transforms a range of low-cost plant-based sugars into high-value oils. Headquartered in South San Francisco, Solazyme’s renewable products can replace or enhance oils derived from the world’s three existing sources – petroleum, plants and animal fats. Initially, Solazyme is focused on commercializing its products into three target markets: (1) fuels and chemicals, (2) nutrition and (3) skin and personal care.

Solazyme ® , the Solazyme logo and other trademarks or service names are trademarks of Solazyme, Inc.

Forward Looking Statements

This press release includes forward-looking statements regarding Solazyme’s financing plans, including statements related to Solazyme’s intended use of the net proceeds from the sale of the Notes. Such statements are subject to certain risks and uncertainties including, without limitation, risks related to market and other general economic conditions and the anticipated use of the net proceeds from the sale of the Notes. Solazyme’s forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although Solazyme’s forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Solazyme. As a result, you are cautioned not to rely on these forward-looking statements.

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