Metabolix Signs Stock Purchase Agreement with Aspire
Metabolix, Inc., an advanced biomaterials company focused on sustainable solutions for the plastics industry, announces that it has entered into a $20 million common stock purchase agreement with Aspire Capital Fund, LLC. Under terms of the agreement, Aspire has committed to purchase up to $20 million of Metabolix's common stock over a 30 month period beginning on the effective date of the registration statement relating to the transaction. Common stock may be sold from time to time at the company's option under a pricing formula based on prevailing market prices around the time of each sale. "The agreement with Aspire Capital provides us with a new way to access capital. Because we control the timing and pace of stock sales under the agreement, we can use this facility to opportunistically supplement other sources of capital as we continue to build our specialty biopolymers business over the next several years," said Joseph Shaulson, CEO and President of Metabolix.