Credit: Shutterstock photoMarrone Bio Innovations, a producer of bio-based pest management and plant health products, raised $57 million by offering 4.8 million shares (550,000 more than expected) at $12, below the range of $14 to $17. The proceeds raised were 12% lower than expected. The company commands a market value of $226 million and an enterprise value of approximately $178 million. Marrone Bio Innovations will list on the NASDAQ under the symbol MBII. Jefferies & Co. and Piper Jaffray acted as lead managers on the deal.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
