FSI - Lygos and Flexible Solutions to merge in an all stock transaction

Lygos and Flexible Solutions International (NYSE:FSI) to integrate and expand the portfolio of multi-functional organic acids, and scale production to meet the increasing demand for sustainable products for agricultural, industrial, and consumer applications. Each outstanding share of Lygos capital stock will be converted solely into the right to receive a number of common shares of FSI equal to the exchange ratio. The merger agreement has been approved by the boards of directors of both the companies. Lygos issued $160M worth of convertible notes with a 5.5% fixed annual interest rate and a five-year maturity. Lygos CEO Eric Steen, PhD sais, “This merger provides the opportunity to unlock new high-growth opportunities for our business, our investors, and our customers by connecting our ingredients to existing downstream products. Together, we intend to use our collective resources to expand domestic manufacturing and revive industrial innovation by providing more environmentally friendly ingredients that enable

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Lygos and Flexible Solutions to merge in an all stock transaction