Yield10 Bioscience sells 1M shares at $2.98 in direct offering

Yield10 Bioscience announced that it has agreed to sell $3.0M of its shares of common stock in a registered direct offering and warrants in a concurrent private placement with investors including a certain institutional investor and an existing investor. Under the terms of the securities purchase agreement, Yield10 has agreed to sell 1,006,710 shares of common stock. The company has also agreed to issue unregistered warrants to purchase 1,006,710 shares of common stock. The combined effective offering price for one share of common stock and accompanying warrant is $2.98. The registered direct offering is expected to close on or about May 5. Maxim Group is acting as sole placement agent for the offering.