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Genomatica withdraws $100 million US IPO

By Renaissance Capital,  August 02, 2012, 09:34:11 AM EDT

Genomatica, which has developed a platform to convert renewable feedstocks into chemicals used in consumer products, withdrew its plans for an initial public offering on Thursday citing poor market conditions. Additionally, the company announced it raised $41.5 million in private financing led by Versalis and existing investors.

The San Diego, CA-based company was founded in 1998 and booked $3 million in sales for the 12 months ended September 30, 2011. The company initially filed to raise up to $100 million in August, 2011. Morgan Stanley, J.P. Morgan and Jefferies & Co. were set to be the joint bookrunners on the deal.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: News Headlines, IPOs

Referenced Stocks: GENO



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