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People & Business :: Earnings/Finance

Myriant Files for $125-Million IPO

9:19 AM MDT | May 31, 2011 | Rebecca Coons

Myriant's Lake Providence, LA succinic acid facility, shown here under construction, is expected to start up by the first quarter of 2014. Myriant Corp. (Quincy, MA), a biobased succinic acid firm, filed for an initial public offering (IPO) worth up to $125 million on Friday, according to an SEC document. The number of shares and pricing details were not disclosed. Succinic acid is a versatile building block that can be used in the production of 1,4 butanediol (BDO), polyurethane, and biodegradeable polymers. However, the high cost of traditional, petroleum-based...

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