• Jun 5th 2011 at 8:50AM
  • 8
Solazyme, a renewable algae-based fuels company headquartered in San Francisco, CA, has announced the closing of its initial public offering (IPO). According to the renewable fuels firm, the company netted $227.18 million by letting 12,621,250 shares fly at a price of $18 per, above the previously estimated $15 to $17. Additionally, the underwriters exercised their 30-day option to purchase an additional 1,646,250 shares of common stock to cover over-allotments. The offering included 600,000 shares sold by existing stockholders.
In 2010, Solazyme reported total revenues of $38 million and a net loss of $13.7 million. Solazyme shares are currently trading at $22.30 on the NASDAQ Global Select Market under the ticker symbol of SZYM.

[Source: Solazyme]
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Solazyme, Inc. Announces Exercise of Over-Allotment Option

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Solazyme, Inc. (NASDAQ: SZYM), a renewable oil and bioproducts company, announced the closing of its initial public offering of 12,621,250 shares of common stock at $18.00 per share. The closing includes the exercise in full of the underwriters' overallotment option on the first day of trading, bringing total gross proceeds raised to $227.2 million. The offering included 600,000 shares sold by selling stockholders.

Morgan Stanley & Co. Incorporated and Goldman, Sachs & Co. acted as joint book-running managers for the offering. Jefferies & Company, Inc. acted as lead manager, and Pacific Crest Securities LLC and Lazard Capital Markets LLC acted as co-managers.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities, in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

A copy of the prospectus relating to the offering may be obtained by contacting Morgan Stanley & Co. Incorporated, Attn: Prospectus Department, 180 Varick Street, New York, NY 10014; or Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com.

About Solazyme, Inc.

Solazyme, Inc. is a renewable oil and bioproducts company that transforms a range of low-cost plant-based sugars into high-value tailored oils. Headquartered in South San Francisco, Solazyme's renewable products can replace or enhance oils derived from the world's three existing sources – petroleum, plants and animal fats. Initially, Solazyme is focused on commercializing its products into three target markets: (1) fuels and chemicals, (2) nutrition and (3) skin and personal care. Solazyme's oils and fuels provide compelling solutions to increasingly complex issues of fuel scarcity, energy security and environmental impact while fitting into the pre-existing multi-trillion dollar fuel infrastructure. For more information, please visit our website: http://www.solazyme.com


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    • 1 Second Ago
  • 8 Comments
      goodoldgorr
      • 4 Years Ago
      Im not interrested to buy stocks, i knew that this website was for traders, especially petrol traders. But like i said im interrested to buy fuels ( butanol ) from them near where i live.
      Nick
      • 4 Years Ago
      "The offering included 600,000 shares sold by existing stockholders." --> get rich quick scheme on the dime of the gullible investor.
        skierpage
        • 4 Years Ago
        @Nick
        You demonstrate your foolishness and ignorance in public. Money doesn't grow on trees, and presumably some of the VCs who invested $128 million in this wanted some cash, maybe in order to invest in OTHER companies. That's what VCs do. If you bothered to do the math, those shares sold come to$10M, which is hardly a rush for the exits. And who exactly are these "gullible investors"? I doubt the general public was eligible to participate, instead the IPO underwriters placed shares with their "institutional clients". If those Wall Street fat cats and high rollers were bamboozled into an overpaying frenzy by Morgan Stanley and Goldman Sachs despite TWENTY-SIX f***ing pages of detailed risks disclosed in the S-1, well, they deserve it. Apparently investors welcomed the opportunity to own a piece of Solazyme. That's it. Get over yourself and get a clue.
        sirvixisvexed
        • 4 Years Ago
        @Nick
        It is more effective to provide evidence of claims than to randomly accuse a group of people that you know nothing about of being immoral. Did you spend time exerting effort doing research about this particular company to find a tangible reason as to why this company is being immoral? Because your statement sounds like you simply have a piss attitude about the world and find pleasure in trying to sell others the baseless vomit of your brain. Ironic where the moral issues are actually coming from; from you.
        Marco Polo
        • 4 Years Ago
        @Nick
        Nick, you sound like someone who has been burned by the market, or even dishonest stock promoters. If so, it's no cause for shame or humiliation, it happens to even very experienced brokers, investors and merchant bankers! The Regulators and Auditors do their best, but in every field of human endeavour there's aways the sharks waiting to prey on the unwary! But, having said that, you must be careful not to defame or libel the honest innovator, raising money to bring a new product to market. Venture capitalists often sell out after an IPO, or fund raising, to reuse that capital more profitably elsewhere. But if you have evidence.....
        Nick
        • 4 Years Ago
        @Nick
        The facts are clear though, even simple minds like you should be able to understand, no? When you have investors who sell their stakes on the very day a company goes public, that should tell you something.
          sirvixisvexed
          • 4 Years Ago
          @Nick
          What should that tell me? That the company is fake, will never make money or sell a product? If a sizable amount of shares get dumped, the the price of the stock goes down, but it has only gone up since the IPO, currently at $23.47. You make a redundant overused assumption that took 3 brain cells to think of, and as I thought, did absolutely no research. Even your simple mind should be able to understand.