In March, Solazyme aimed to raise $100m but now said it would issue 11.5 million shares, including 1.5 million if demand is strong enough as a so-called greenshoe allotment, at between $15 and $17 each. At the top end of its pricing range, Solazyme would have an initial market capitalisation of $965m.
Solazyme, a US-based developer of biofuels through the use of algae backed by a host of strategic investors, has nearly doubled the size of its planned flotation to $195m at the top of its price range.
In March, Solazyme aimed to raise $100m but now said it would issue 11.5 million shares, including 1.5 million if demand is strong enough as a so-called greenshoe allotment, at between $15 and $17 each. At the top end of its pricing range, Solazyme…
