BioFuels Journal

Jupiter, Fla., October 30, 2014—Dyadic International, Inc. ("Dyadic")(OTCQX: DYAI), a global biotechnology company whose patented and proprietary technologies are used to develop, manufacture and sell enzymes and other proteins for the bioenergy, bio-based chemical, biopharmaceutical and industrial enzyme industries, announced today that it has entered into agreements with the holders of all of its outstanding 2010 and 2011 8% convertible subordinated notes (the "Convertible Debt") to extend their maturity dates to January 1, 2016.

The 2010 and 2011 8% Convertible Debt represents $6.7 million and may be prepaid by Dyadic at any time, in whole or in part, after March 31, 2015 with 30 days' notice.

The extended Convertible Debt includes a warrant provision in the event Dyadic elects to call the Convertible Debt early, in whole or in part, after March 31, 2015 and prior to the January 1, 2016 maturity date.

Should the Convertible Debt holder(s), upon such call notice, elect not to convert their notes into common shares, Dyadic will pay the Convertible Debt holders' their current outstanding Convertible Debt balance, and issue warrants to purchase common stock equal to 25% of the redeemed Convertible Debt balance at $1.48 per common share.

If such warrants are issued, the warrants will have a three year term.

In addition, in connection with the extension of the 2010 Convertible Debt, the share conversion price has been reduced from $1.82 to $1.48.

The share conversion price of the 2011 Convertible Debt remains unchanged. All other terms and conditions of the 2010 and 2011 Convertible Debt remain unchanged.

For more information, please contact Thomas Dubinski at 561-743-8333 or tdubinski@dyadic.com

See Related Websites/Articles:

• Dyadic International Inc.

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