BioAmber sets terms for $128 million IPO

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BioAmber, which converts renewable feedstocks into bio-succinic acid and other chemicals, announced terms for its IPO on Thursday. The Montreal, Canada-based company plans to raise $128 million by offering 8 million shares at a price range of $15 to $17. At the midpoint of the proposed range, BioAmber would command a fully diluted market value of $325 million. BioAmber, which was founded in 2008 and booked $2 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol BIOA. BioAmber initially filed confidentially on 11/9/2012. Credit Suisse, Societe Generale and Barclays are the joint bookrunners on the deal.



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