Amyris shares plunge as it begins bankruptcy proceedings

Amyris

10/08/2023 09:20

** Shares of U.S.-based synthetic biotechnology company
Amyris  AMRS.O  down almost 70% to 10 cents in premarket trade
    ** Co files for Chapter 11 bankruptcy in a U.S. court, adds
entities outside U.S. not included in proceedings
    ** Plans to exit its consumer brands, to begin marketing
them for sale
    ** Says it will continue to operate its consumer brands as
sale process progresses
    ** Secures commitment for $190 million to support co's
day-to-day operations
    ** As of last close, AMRS shares down 77.6% this year
    

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))