Verenium Announces Debt Repurchase

Verenium Corporation VRNM today announced that it repurchased approximately $5.2 million in principal amount of its 5.5% Notes and approximately $3 million in principal amount of 9% Notes. "We are very pleased to have taken another important step toward creating a capital structure that is appropriate to support the continued growth and success of the Company," said Jeffrey Black, Senior Vice President and Chief Financial Officer at Verenium. In total, the Company repurchased approximately $8.2 million in principal amount of its 5.5% and 9% Notes, leaving an aggregate of $36 million in principal amount of 5.5% and 9% Notes outstanding. To effect this repurchase, the Company paid a total of $7.7 million in cash to a single institutional investor, excluding accrued interest, as of the closing date.