Codexis raises $78M in IPO
May 2nd, 2010
Codexis, the Redwood City biofuels company, raised $78 million in its initial public offering Thursday, the bottom of its expected range.
Its shares were priced at $13 and traded up slightly to close at $13.26 a share. The six million shares were expected to be priced between $13 and $15.
The company said underwriter Credit Suisse could buy 900,000 more shares to cover excess demand.
Codexis is developing biocatalysts to facilitate making biofuels. The company sells biocatalysts to the pharmaceutical industry.
The shares trade on Nasdaq under the symbol CDXS.
Filed under: technology by Wolf