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.
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 firstname.lastname@example.org.
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