December 18, 2017 / 12:40 PM / in 8 months

BRIEF-Marrone Bio Innovations, Inc. Announces Comprehensive Financing And Debt Restructuring Transaction

Dec 18 (Reuters) - Marrone Bio Innovations Inc:

* MARRONE BIO INNOVATIONS, INC. ANNOUNCES COMPREHENSIVE FINANCING AND DEBT RESTRUCTURING TRANSACTION

* MARRONE BIO INNOVATIONS-EACH OF 30.7 MILLION UNITS BEING BOUGHT BY OSPRAIE TO HAVE OF A SHARE OF CO, & A WARRANT TO BUY ONE SHARE FOR $1.00/SHARE

* MARRONE BIO INNOVATIONS - EACH OF 13.3 MILLION UNITS BEING BOUGHT BY OTHER BUYERS TO HAVE 1 SHARE & A WARRANT TO BUY 0.8 SHARES OF CO FOR $1.00/SHARE

* MARRONE BIO - INTENDS TO APPOINT TWO NEW CLASS I DIRECTORS DESIGNATED BY OSPRAIE TO CO’S BOARD OF DIRECTORS, EFFECTIVE UPON CLOSING

* MARRONE BIO INNOVATIONS INC - EXPECTS TO RECEIVE APPROXIMATELY $27.7 MILLION OF CASH NET PROCEEDS FROM PROPOSED TRANSACTIONS

* MARRONE BIO INNOVATIONS INC - CO’S OUTSTANDING INDEBTEDNESS EXPECTED TO BE REDUCED FROM $62.5 MILLION TO $17.5 MILLION FROM DEBT RESTRUCTURING​

* MARRONE BIO INNOVATIONS INC - INTEREST RATE UNDER SNYDER LOAN AGREEMENT HAS ALSO BEEN REDUCED FROM 14% TO 8% Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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