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People & Business :: Companies

BioAmber raises $80 million in initial public offering

4:19 PM MDT | May 20, 2013 | —Rebecca Coons

Biobased succinic acid firm BioAmber (Minneapolis) raised $80 million in an initial public offering—capital it will use toward construction of its first production asset set to come online next year at Sarnia, ON. Shares of BioAmber began trading on the New York Stock Exchange 10 May at $10/unit—the low end of a pricing range that had already been slashed by a third. Each of the 8 million shares included 1 warrant to purchase half of 1 share of common stock at an exercise price of $11/share. BioAmber originally filed in November 2011 for an IPO worth...

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