Davis Polk is advising Solazyme, Inc. (SZYM) in connection with its private placement of approximately $28 million of its Series A convertible preferred stock to Glenhill Capital Advisors LLC, certain of its investment funds and other investors. The closing of the transaction is subject to customary closing conditions.

Based in South San Francisco, California, Solazyme develops and sells innovative, sustainable, high-performance oils and ingredients that are better for people and better for the planet. Starting with microalgae, the world’s original source of oil, Solazyme creates renewable oils and ingredients that serve as the foundation for healthier foods, high-performance industrial products, unique home and personal care solutions and more sustainable fuels.

The Davis Polk corporate team includes partner Alan F. Denenberg and associates Bryan M. Quinn and Keerthika Melissa Subramanian. Partner Rachel D. Kleinberg and associate Alexander Wu are providing tax advice. Associates Michelle Gross and Jason J. Bang are providing intellectual property and technology advice. All members of the Davis Polk team are based in the Northern California office.

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