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Chemical Week Magazine :: Business & Finance :: United States/Americas
Elevance Withdraws Bid to Go Public
8:59 AM MDT | September 14, 2012 | —Rebecca Coons
Elevance Renewable Sciences (Woodbridge, IL) says it has withdrawn its filing for an initial public offering (IPO) because of poor equity market conditions and the addition of $104 million in Series E financing, announced in July. Elevance filed for an IPO worth up to $100 million in September 2011. Elevance, spun out of Cargill in 2007, produces biobased olefins, including a reportedly unique distribution of alpha- and internal olefins for chemicals and advanced fuels; multifunctional esters and acids, including 9-decenoic acid; and a mixture of oleochemicals...
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