Agrow is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. Please do not redistribute without permission.

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Marrone secures $40 m loan

The US biopesticide company, Marrone Bio Innovations (MBI - Davis, California), has secured a $40 million loan repayable over the next three to five years. It has also issued the lenders warrants to purchase a total of 4 million shares of common stock at $1.91 per share. The company intends to use the proceeds for working capital and other general corporate purposes. MBI has notified its continuing non-compliance with the Nasdaq stock exchange's financial reporting requirements for the three months to June 30th 2015.  The company has not submitted financial reports since the second quarter of 2014 following an investigation into an $870,000 transaction in the fourth quarter of 2013. Last month, MBI detailed its plans for filing a form 10-K and form 10-Qs with the US Securities and Exchange Commission. Meanwhile, the company's president and chief operating officer, James Iademarco, has resigned with effect from August 31st. He has held the position since January.

Advertisement

Topics

What to read next

Advertisement
UsernamePublicRestriction

Register

AG022972

Ask The Analyst

Please fill in the form below to send over your enquiry or check the Ask The Analyst Page to find out more about the service

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel