Solazyme prices IPO at $18/share
27 May 2011
Solazyme, Inc., a renewable algal oil and bioproducts company, has priced its initial public offering of 10,975,000 shares of common stock at $18.00 per share, higher than the earlier estimated range of $15–$17.
Of the shares of common stock in the offering, Solazyme is offering 10,375,000 shares, and selling stockholders are offering 600,000 shares. In addition, Solazyme has granted the underwriters a 30-day option to purchase up to an additional 1,646,250 shares of common stock, solely to cover over-allotments, if any. Solazyme will not receive any proceeds from the sale of shares by the selling stockholders.
Morgan Stanley & Co. Incorporated and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Jefferies & Company, Inc. is acting as lead manager, and Pacific Crest Securities LLC and Lazard Capital Markets LLC are acting as co-managers. The shares will begin trading on the NASDAQ Global Select Market today under the ticker symbol “SZYM.”
Good to see a public offering for this kind of company. Maybe if we structured the tax laws to channel capital into productive efforts we would make more progress.
Posted by: SJC | 27 May 2011 at 07:27 AM
Agreed. It is inspiring to see renewable energy taking a prime position in the IPO markets. This will help others in the renewable fuels industry.
Posted by: Reel$$ | 27 May 2011 at 08:48 AM