Of the 10.975 million shares of common stock in the IPO, Solazyme is offering 10,375,000 shares and stockholders are putting forth 600,000 shares. Additionally, 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. Morgan Stanley and Goldman Sachs are acting as joint book-running managers for the offering.
In 2010, Solazyme reported total revenues of $38 million and a net loss of $13.7 million. If you are thinking of investing, though, you may want to skim over the company's S-1 filing here. Solazyme shares will begin trading on the NASDAQ Global Select Market today under the symbol SZYM.
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Solazyme, Inc., a renewable oil and bioproducts company, today announced the pricing of its initial public offering of 10,975,000 shares of common stock at a price to the public of $18.00 per share. 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 on May 27, 2011 under the ticker symbol "SZYM."
A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on May 26, 2011. Any offer or sale will be made solely by means of a written prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained from: 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.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or 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.
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 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.