Jefferies and Piper Jaffray to be the joint lead bookrunning managers
By Devika Patel
Knoxville, Tenn., June 6 – Marrone Bio Innovations, Inc. said it will raise $37.05 million in its public offering of stock and a selling stockholder will raise $5.7 million in a concurrent secondary sale. The deal has a $6.41 million greenshoe and was announced May 16.
The company will sell 3.9 million common shares and stockholder Syngenta Ventures Pte. Ltd. will sell 600,000 shares at $9.50 per share. The price per share is a 1.04% discount to the June 5 closing share price of $9.60.
Jefferies LLC and Piper Jaffray & Co. are the joint lead bookrunners.
Proceeds will be used for working capital, product development, capital expenditures and general corporate purposes, such as potential acquisitions.
Based in Davis, Calif., Marrone makes bio-based pest management and plant health products.
| Issuer: | Marrone Bio Innovations, Inc.
|
| Issue: | Common stock
|
| Amount: | $42.75 million
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| Greenshoe: | $6,412,500
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| Shares: | 4.5 million
|
| Price: | $9.50
|
| Warrants: | No
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| Bookrunners: | Jefferies LLC and Piper Jaffray & Co. (joint leads)
|
| Co-managers: | Stifel, Nicolaus & Co., Inc., Robert W. Baird & Co. Inc. and Roth Capital Partners, LLC
|
| Announcement date: | May 16
|
| Pricing date: | June 6
|
| Stock symbol: | Nasdaq: MBII
|
| Stock price: | $9.60 at close June 5
|
| Market capitalization: | $194.11 million
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