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April 14, 2021, 6:40 a.m. EDT

'Biofacturing' company Zymergen to offer 13.6 million shares in IPO priced at $28 to $31 each

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By Ciara Linnane

ZY

Zymergen Inc. /zigman2/quotes/226284313/composite ZY +3.71% , a biofacturing company, launched the roadshow for its initial public offering on Wednesday with plans to offer 13.6 million shares priced at $28 to $31 each. The Emeryville, Calif.-based company would raise $421.6 million at the top of that range, and be valued at about $2.96 billion. Underwriters, led by JP Morgan and Goldman Sachs, have the option to purchase an additional 2.0 million shares. The company has applied to list on Nasdaq, under the ticker "ZY." Our goal is to create new products with a proprietary platform that unlocks the design and manufacturing efficiency of biological processes with technology's ability to rapidly iterate and control diverse functions," the company says in its filing documents. "We call our process biofacturing and we expect it will create better products faster, cheaper and more sustainably than traditional chemistry by engineering microbes to make novel biomolecules that are the key ingredients in those products." Proceeds of the deal will be used for working capital and general corporate purposes.

/zigman2/quotes/226284313/composite
US : U.S.: Nasdaq
$ 42.77
+1.53 +3.71%
Volume: 144,513
May 7, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.29 billion
Rev. per Employee
N/A
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