Solazyme IPO nets up to $227M
Renewable oils pioneer sets sector IPO record. What made Solazyme different? What's the impact on other industrial biotech IPOs?
In California, word arrived that Solazyme has priced its IPO at $18 per share, and will rake in an industrial biotech record of $227M, should underwriters also sell 1.65 million additional shares in over-allotments over the next 30 days.
The 10.375 million shares expected to transfer today will net $197.55 million for the company, and co-founders Jonathan Wolfson and Harrison Dillon, who each unloaded small stakes.
What went right? What's the impact on the IPOs of KiOR and Ceres - will LS9, Coskata, Cobalt Technologies, Sapphire Energy, Virent, Mascoma or Enerkem jump into the public markets to seek full-scale commercialization capital? A full report at biofuelsdigest.com.