Tue 08/08/2023 17:02 PM
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UPDATE 1: 5:03 p.m. ET 8/8/2023: Amyris bondholders are working with Paul Hastings as legal advisor, according to sources.

Paul Hastings did not respond to a request for comment.

--Patrick Fitzgerald, Gaurav Sharma

Original Story 12:20 p.m. UTC on Aug. 8, 2023

Largest Amyris Bondholders Sign NDAs; Company Sells MG Empower, Closes Down Several Brands

Amyris’ largest bondholders have become restricted to engage with the company, which is further trimming its footprint by exiting a number of consumer brands and implementing an additional headcount reduction, according to sources.

Specifically, Amyris is parting with MG Empower, and closing down Costa Brazil, Onda Beauty, Purecane and its Brazil consumer team, the sources said, while also discontinuing its creative shared consumer services team, shuttering its New York office, and eliminating positions across its legal, human resources, finance, information technology, research & development and product development teams, among others.

Amyris is working with restructuring advisors amid continuing poor performance and a severe liquidity contraction, as reported. The company entered into, and subsequently drew down, a $20 million term loan with Foris Ventures last week.

Amyris declined to comment.

--Patrick Fitzgerald, Gaurav Sharma
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