Lipids-based products developer Enzymotec sets terms for $75 million IPO
Enzymotec, which develops lipid-based nutritional ingredients
and medical foods, announced terms for its IPO on Monday. The
Migdal Ha'Emeq, Israel-based company plans to raise $75 million
by offering 4.4 million shares at a price range of $16 to $18. At
the midpoint of the proposed range, Enzymotec would command a
fully diluted market value of $391 million.
Enzymotec, which was founded in 1998 and booked $51 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol ENZY. Enzymotec initially filed confidentially on July 10, 2013. BofA Merrill Lynch and Jefferies are the joint bookrunners on the deal.