Maravai LifeSciences Holdings, Inc. (NasdaqGS:MRVI) agreed to acquire Alphazyme LLC from Dyadic International, Inc. (NasdaqCM:DYAI) and others on January 18, 2023. Additionally, under that arrangement Dyadic has the right to receive milestone and royalty payments based on sales of C1 expressed products by Alphazyme. Dyadic also has the potential to receive additional payments based on the future sales of Alphazyme?s existing products. Benoit Capital Partners acted as advisor to Dyadic International, Inc.

Maravai LifeSciences Holdings, Inc. (NasdaqGS:MRVI) completed the acquisition of Alphazyme LLC from Dyadic International, Inc. (NasdaqCM:DYAI) and others for approximately $150 million on January 18, 2023. The total consideration to acquire Alphazyme consisted of a base cash purchase price of $75.3 million, subject to customary post-closing adjustments, and potential performance payments payable in cash of up to $75 million. In connection with the sale of interest, Dyadic International, Inc. received approximately $1.27 million and also has the potential to receive additional payments based on the future sales of Alphazyme?s existing products. The total cash consideration was paid using existing cash on hand. As of August 9, 2023 during the six months ended June 30, 2023, the Company received a total cash payment of approximately $1.3 million from the sale of its equity interest in Alphazyme, LLC.