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Enzymotec announces exercise in full of option to purchase additional shares

Enzymotec announced that the underwriters of its initial public offering had exercised in full their option to purchase an additional 661,800 ordinary shares from the company at the initial public offering price. The offering is expected to close on October 2, subject to customary closing conditions. As a result of the exercise of the option, a total of 5,073,800 shares are being offered by the company raising gross offering proceeds of $71M and net proceeds from the offering to the company of approximately $63.5M, after deducting the underwriting discount and estimated offering expenses. The company intends to use the net proceeds from the offering to meet its anticipated increased working capital requirements resulting from the expected growth in the company's business and for other general corporate purposes. BofA Merrill Lynch and Jefferies acted as joint book-running managers for the offering. Wells Fargo Securities acted as lead manager for the offering. Canaccord Genuity and Wedbush Securities acted as co-managers for the offering.

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