Codexis Announces Pricing of Public Offering of Common Stock

REDWOOD CITY, Calif., Dec. 02, 2020 (GLOBE NEWSWIRE) -- Codexis, Inc. (Nasdaq:CDXS), a leading protein engineering company, today announced the pricing of an underwritten public offering of 4,285,715 shares of its common stock at a public offering price of $17.50 per share. Net proceeds to Codexis from the offering are expected to be approximately $70.2 million after underwriting discounts and commissions and estimated offering expenses. The offering is expected to close on or about December 7, 2020, subject to customary closing conditions. Codexis has granted the underwriters of the offering the right for a period of 30 days to purchase up to an additional 642,857 shares of common stock at the public offering price, less underwriting discounts and commissions.

Jefferies LLC, Cowen and Company, LLC and Stifel, Nicolaus & Company, Incorporated are acting as joint book-running managers for the offering. Craig-Hallum Capital Group LLC and Stephens Inc. are acting as co-managers. The Benchmark Company acted as a financial advisor to Codexis in connection with the offering.

Codexis intends to use the net proceeds from the offering to fund research and development activities and infrastructure, to accelerate development of its performance enzyme products and novel biotherapeutic product candidates as well as any additional products or product candidates that Codexis may develop in the future, and for general corporate purposes, including increasing its working capital and capital expenditures. Codexis may also use a portion of the net proceeds to make investments in, or acquire, complementary businesses, products, services or technologies.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on December 6, 2018. The offering is being made only by means of a written prospectus and prospectus supplement that will form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. A final prospectus supplement and accompanying prospectus will be filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by email at [e-mail], or by telephone at [phone]; Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by telephone at [phone], or by email at [e-mail]; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by telephone at 415-364-2720, or by email at [e-mail].