Amyris gets interim access to $70 million of DIP financing

By Sarah Lizee

Olympia, Wash., Aug. 11 – Amyris, Inc. received interim approval of a $190 million debtor-in-possession facility, according to an interim order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Amyris secured the commitment from Euagore, LLC, an entity affiliated with existing lender Foris Ventures, for the post-petition financing to support continued day-to-day operations as the company works with its key stakeholders to negotiate a consensual go-forward plan.

The super-priority multiple-draw senior secured term loan facility is set to mature on Dec. 31 and bear interest at 12% per year, compounded monthly and payable in kind.

The company now has access to $70 million of the facility.

A final hearing is set for Sept. 14.

Emeryville, Calif.-based Amyris is a synthetic biotechnology company. The company filed bankruptcy on Aug. 9 under Chapter 11 case number 23-11131.

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