IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Industrial Biotech

BioAmber cuts IPO share price

11:52 AM MDT | May 8, 2013 | Rebecca Coons

Renewable chemicals maker BioAmber has lowered the price range for its proposed initial public offering, saying in an SEC filing that it is now looking to raise $88 million by offering 8 million shares at $10–12. The new price range is 30% below the midpoint of its previously announced price of $15–17/share—set early last month—for targeted proceeds worth $128 million. Its original target, set in November 2011, was $150 million. The filing also says each share being sold would include a warrant to purchase half a share of common...

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