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KiOR receives $25M lifeline from Khosla
1 April 2014
In a Form 8-K filing with the SEC, cellulosic biofuels company KiOR reported that it will receive up to $25 million in multiple tranches of financing of up to $25 million from KFT Trust, Vinod Khosla, Trustee.
In its Form 10-K (annual report) filed with the SEC on 17 March, KiOR said it has “substantial doubts about [its] ability to continue as a going concern” absent additional capital to provide additional liquidity. (Earlier post.)
On 16 March, the company received a $25-million investment commitment from Vinod Khosla (one of the company’s investors), conditioned on the achievement of certain performance milestones to be mutually agreed upon. The investment by KFT Trust is intended to satisfy the commitment from Vinod Khosla.
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