The Intrepid Investor: Ceres Delays IPO; Others in IPO Queue Shift, Accelerate Strategies
by Jim Lane (Biofuels Digest) In Part II of our series, we look today at Ceres, Myriant, PetroAlgae, BioAmber, Elevance, Genomatica, Enerkem, Mascoma, and Fulcrum Bioenergy.
In Part I, yesterday, we looked at the performance of the six IPOs to date in the aftermarket, and at important changes in Coskata’s recent filings.
Headline news from the world of IPOs: a decision by Ceres to delay their IPO pricing for one week. The company did not offer an explanation, but its fair to assume, after the company cut its price targets from $21-$23 to $a range of $16 to $17, that the offering is encountering unexpected headwinds.
…One of the companies that has been in the queue for over a year now is PetroAlgae, which responded to slow IPO going yesterday by announcing a name change to Parabel.
…Mascoma: Adding More Valero, DOE support to the Mix
…BioAmber: Raising $20 million in a private offering
…Genomatica – May forego Tate & Lyle agreement
…Elevance – Ramping up production
…Fulcrum – commenced construction at Sierra, reducing cost per gallon
…Myriant – deeper losses, more production