IHS Chemical Week

People & Business :: Earnings/Finance

Solazyme Lists on Nasdaq

8:50 AM MDT | May 27, 2011 | Nancy Seewald

Algae oils firm Solazyme (San Francisco) says its common stock began trading on the Nasdaq Global Select Market today after the successful launch of an initial public offering (IPO). The IPO, priced at $18/share, raised about $197.5 million, more than the company’s earlier expectations of about $184 million. In addition, Solazyme says it 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 lead underwriters for the deal...

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