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Codexis Announces Proposed Public Offering of Common Stock

REDWOOD CITY, Calif., April 06, 2017 (GLOBE NEWSWIRE) -- Codexis, Inc. (Nasdaq:CDXS), a leading protein engineering company, today announced that it has commenced an underwritten public offering of shares of its common stock. All of the shares to be sold in the offering will be offered by Codexis. In addition, Codexis intends to grant to the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering, on the same terms and conditions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

Codexis intends to use the net proceeds from the offering for general corporate purposes, which may include, among other things, supporting the development of its product candidates, funding research and development, increasing its working capital and capital expenditures.

Jefferies LLC is acting as sole book-running manager for the proposed offering. Craig-Hallum Capital Group LLC is acting as co-manager.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on January 10, 2017. 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 will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the prospectus and related preliminary prospectus supplement relating to the offering may also 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 Prospectus_Department@Jefferies.com, or by phone at (877) 547-6340.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Codexis 
Codexis is a leading protein engineering company that applies its technology to the development of biocatalysts for commercial manufacture of pharmaceuticals and fine chemicals, as well as the development of enzymes as biotherapeutics and for molecular diagnostics.  Codexis’ proven technology enables implementation of biocatalytic solutions to meet customer needs for rapid, cost-effective and sustainable manufacturing.

Forward-Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Codexis, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor of the Private Securities Litigation Reform Act of 1995, including Codexis’ expected use of the proceeds of the proposed public offering. Such forward-looking statements involve substantial risks and uncertainties that could cause Codexis’ future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all. Codexis undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Codexis’ business in general, please refer to Codexis’ prospectus supplement to be filed with the SEC, including the documents incorporated by reference therein, which include Codexis’ Annual Report on Form 10-K filed with the SEC on March 9, 2017, and Codexis’ other periodic reports filed with the SEC.

Codexis Contact:
Gordon Sangster
Chief Financial Officer
(650) 421-8115
gordon.sangster@codexis.com

Investor Relations Contact:
LHA
Jody Cain
(310) 691-7100
jcain@lhai.com

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Codexis, Inc.
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