October 7, 2009 (FinancialWire) — Verenium Corp. (NASDAQ: VRNMD) has priced an underwritten public offering of 2.25 million shares of its common stock and warrants to purchase an additional 900,000 shares of common stock at $6 per unit. Lazard Capital Markets is acting as the sole bookrunning manager.

Each unit consists of one share of common stock and a warrant to purchase 0.40 of a share of common stock. The shares of common stock and warrants are immediately separable and will be issued separately. The warrants have a five-year term and an exercise price of $7.59.

Verenium will see net proceeds of around $12.3 million, providing the company with several additional months of operating capital into 2010. The offering is scheduled to close on or about October 9.

Cambridge, Massachusetts-based Verenium is engaged in the development and commercialization of cellulosic ethanol.

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