Marrone Bio Innovations Announces Effectiveness of Form S-3 Resale Registration StatementNo Offer of New Securities; Registration Statement Permits Resale of Common Stock from Warrant Financing Exercises
DAVIS, Calif., Jan. 05, 2021 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc (Nasdaq: MBII) (MBI), a leading provider of effective and environmentally responsible pest management and plant health products, announced today that its Form S-3 resale registration statement relating to the potential resale of shares of common stock, including common stock issuable upon the exercise of warrants held by certain shareholders per the Company’s previously announced warrant transaction, has been declared effective by the U.S. Securities and Exchange Commission (“SEC”) on January 5, 2021.
“This registration statement was filed to comply with the terms of our warrant restructuring transactions that we previously announced in April of 2020, and to facilitate the cash exercise of the warrants to finance our operations,” said Jim Boyd, Chief Financial Officer of Marrone Bio Innovations. “We are not offering any new securities, and we will not receive any proceeds from the resale of stock under this Form S-3. However, while the registration statement remains effective, we will continue to receive proceeds from the cash exercise of the April 2020 warrants.”
Securities registered pursuant to the registration statement are not required to be sold, and the registration of the securities does not necessarily indicate that any stockholder intends to sell its securities. The registration statement, while effective, permits resale of the securities already issued or issuable from warrants and covered by the registration statement, subject to the satisfaction by the seller of the securities with the prospectus delivery requirements of the Securities Act of 1933.
The offering of the securities covered by the registration statement may only be made by means of a prospectus. The registration statement and prospectus may be accessed through the SEC’s website at www.sec.gov. A copy of the prospectus related to the offering may be obtained from Marrone Bio Innovations, Inc., 1540 Drew Avenue, Davis, California 95618, Attention: Investor Relations, or by calling (530) 750-2800.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state or jurisdiction in which the offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Marrone Bio Innovations
Marrone Bio Innovations Inc. (NASDAQ: MBII) is a growth-oriented company leading the movement to a more sustainable world through the discovery, development and sale of innovative biological products for crop protection, plant health and waterway systems treatment that help customers operate more sustainably while increasing their return on investment. MBI has screened over 18,000 microorganisms and 350 plant extracts, leveraging its in-depth knowledge of plant and soil microbiomes enhanced by advanced molecular technologies and natural product chemistry to rapidly develop seven product lines. Supported by a robust portfolio of over 400 issued and pending patents, MBI’s currently available commercial products are Regalia®, Stargus®, Grandevo®, Venerate®, Majestene®, Haven®, Pacesetter™, Zelto® Jet Oxide® and Jet Ag® and Zequanox®, with a next-generation insecticide-nematicide, a breakthrough bioherbicide and a biofumigant in the Company’s product pipeline. MBI’s Pro Farm Finland-based subsidiary employs a proprietary technology derived from wood waste to stimulate plant growth and improve plant health, resulting in improved yields and crop quality. Products include UBP™ 110, Foramin®, UBP™ Seed Treatment, Foramin® ST.
Learn more about Marrone Bio Innovations at www.marronebio.com. We also use our investor relations website, https://investors.marronebio.com, as well as our corporate Twitter account, @Marronebio, as means of disclosing material non-public information, and encourage our investors and others to monitor and review the information we make public in these locations. Follow us on social media: Twitter, LinkedIn and Instagram.
Marrone Bio Innovations Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing MBI’s views as of any subsequent date. Examples of such statements include statements regarding the potential cash exercise of warrants and potential resales of common stock under the prospectus. Such forward-looking statements are based on information available to the Company as of the date of this release and involve a number of risks and uncertainties, some beyond the Company’s control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including consumer, regulatory and other factors affecting demand for the Company’s products, any difficulty in marketing MBI’s products in global markets, competition in the market for pest management products, lack of understanding of bio-based pest management products by customers and growers, and adverse decisions by regulatory agencies and other relevant third parties. Additional information that could lead to material changes in MBI’s performance is contained in its filings with the Securities and Exchange Commission. MBI is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of new information, future events or otherwise.
Marrone Bio Innovations Contacts:
Kevin Helash, CEO
Jim Boyd, President and CFO
Telephone: +1 (530) 750-2800