{"id":22018,"date":"2014-08-15T02:21:01","date_gmt":"2014-08-15T00:21:01","guid":{"rendered":"http:\/\/www.biofuelsdigest.com\/biobased\/2014\/08\/13\/metabolix-granted-financial-viability-exception-by-nasdaq\/"},"modified":"2014-08-14T13:48:54","modified_gmt":"2014-08-14T11:48:54","slug":"metabolix-granted-financial-viability-exception-nasdaq","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/metabolix-granted-financial-viability-exception-nasdaq\/","title":{"rendered":"Metabolix granted financial viability exception by NASDAQ"},"content":{"rendered":"<p><strong>CAMBRIDGE, Mass., Aug. 11, 2014 \/PRNewswire\/ &#8212; Metabolix, Inc. (NASDAQ: MBLX), an advanced biomaterials company focused on sustainable solutions for the plastics and chemicals industries, announced today that NASDAQ has granted the Company&#8217;s request for a financial viability exception to the shareholder approval requirements otherwise applicable to the $25 million private placement financing announced by the Company on August 4, 2014.<\/strong><\/p>\n<p>The Company applied to NASDAQ for a financial viability exception because it determined that the delay necessary to seek and obtain shareholder approval for the transaction would seriously jeopardize the financial viability of the Company. A special committee of the Company&#8217;s Board of Directors comprised solely of independent, disinterested directors approved the transaction and the Company&#8217;s reliance on the NASDAQ financial viability exception.<\/p>\n<p>On August 8, 2014, NASDAQ granted the Company&#8217;s request for the exception and, as a result, the Company intends to close the transaction on or about August 22, 2014, subject to the satisfaction of the other closing conditions specified in the purchase agreement.<\/p>\n<p>In accordance with NASDAQ requirements, the Company will mail a letter to shareholders notifying them of its intention to close the transaction without obtaining approval from its shareholders.<\/p>\n<p>&nbsp;<\/p>\n<h3>About Metabolix<\/h3>\n<p>Metabolix, Inc. is an advanced biomaterials company focused on sustainable solutions for the plastics and chemicals industries. The Company is developing and commercializing a family of high-performance biopolymers targeted at applications for performance additives that can improve performance and\/or reduce cost in other material systems such as PVC, PLA and coated paper. Metabolix also is developing platforms for biobased chemicals based on its novel &#8220;FAST&#8221; recovery process and for co-producing plastics, chemicals and energy from crops. Metabolix has established an industry-leading intellectual property portfolio that, together with its knowledge of advanced industrial practice, provides a foundation for industry collaborations.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In Massachusetts, Metabolix announced that NASDAQ has granted the its request for a financial viabil&#8230;<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","nova_meta_subtitle":"","footnotes":""},"categories":[5572],"tags":[],"supplier":[194],"class_list":["post-22018","post","type-post","status-publish","format-standard","hentry","category-bio-based","supplier-metabolix"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/22018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=22018"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/22018\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=22018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=22018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=22018"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=22018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}