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Wednesday, May 18, 2022

Update on Merger Agreement: Marrone Bio Innovations, Inc. (MBII) Stock Made a Comeback After Hours.

Marrone Bio Innovations, Inc. (MBII) is an innovative company engaged in the development and commercialization of biological product lines for the protection, health, and nutrition supply of crops. Its target markets include row crops, fruits and vegetables, nuts and vines, and greenhouse production. Its R&D program utilizes exclusive technologies to isolate natural microorganisms and plant extracts to produce environmentally sound systems in agriculture.


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MBII stock price during the regular trading of March 16, 2022, dipped by 8.98% to be $0.7. Its price rebounded at the time of writing in the aftermarket session by 29.7%.

MBII: Events and Happenings

On March 16, 2022, MBII and Bioceres Crop Solutions Corp. updated on their entry into a definitive contract for the merger of both companies in an all-stock operation. Under the conditions of the agreement, each share of the company’s common stock will be traded for Bioceres ordinary shares at a 0.088 ratio. It represented a total value of up to $236 million.

On March 08, 2022, MBII reported the release of the fourth-quarter 2021 financial statement on March 28. On February 15, 2022, MBII announced its subsidiary and Corteva Agriscience had entered a definitive contract for Europe. Under the terms of the contract, Corteva is the proprietary European supplier of a foliar bionutrient ‘Kinsidro Grow’, which improves plant vigor.

MBII: Key Financials

On November 10, 2021, MBII announced Q3 2021 financials for the three months ended September 30, 2021. Some key highlights are as follows.

Revenue

Total revenues in Q3 2021 for the company were $9.85 million against $8.82 million during the same quarter of 2020. The company’s total revenue soared by 12% over the yearly period. Also, it lags the revenue estimates by $705.6 thousand.

EPS

Net loss (basic and diluted) per share during the third quarter of the fiscal year 2021 was $4.9 million or $0.03 $7.7 compared to $6.1 million or $0.04 in the corresponding quarter of 2020. The company’s earnings improved over the year and the EPS expectations remained in line with the actual figures.

Conclusion

MBII stock lost its momentum in the past year as it down-paced by 71% during the year. The current aftermarket hike came just after the company announced its merger with Bioceres Crop Solutions. The company is also gearing for the fourth-quarter earnings call and its revenue outlook is $10.1 million against -$0.03 EPS.

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