May 17, 2013

Biochems financial news

The blog has compiled several news from the financial community starting with the closing of BioAmber's initial public offering (IPO) on Wednesday.

I'm guessing it is still a difficult market for renewable chemical companies wanting to be public as BioAmber was only able to get to the low end of its IPO expectations, raising $80m or an equivalent of $10/share of an 8,000,000 unit offering. BioAmber already reduced last week its initial target range of between $15 to $17/share reported in the company's amended S-1 filing in April to $10 to $12/share.

According to BioAmber, the units consists of one share of common stock and one warrant to purchase half of one share of common stock at $10/unit before discounts and commissions. Each warrant will be excisable at a price of $11 per whole share of common stock.

More on this post...
Post a Comment