Codexis (Nasdaq: CDXS) Raises $78M

by Terrence Murray - April 22, 2010

As expected this morning� biofuel� maker Codexis sold six million shares priced at $13 as part of its Initial Public Offering (IPO), raising $78 million. Shares sold on the low-end of the company’s $13 – to – $15 per share range.� The company has an initial market cap of $441 million.

Credit Suisse led the IPO. Piper Jaffray, RBC Capital Markets and Pacific Crest Securities were co-managers.

Since 2002 Codexis has raised $80 million. Investors include Royal Dutch Shell, CCTV Investments, CMEA Ventures, Pequot Capital, Bio*One Capital and Pfizer. The company manufactures synthetic enzymes that convert organic materials � like wood chips, switchgrass, cornhusks, sugar cane � into biofuel. The process can also be used for the pharmaceutical indusry — .

Happy Earth Day!

4 Responses to “Codexis (Nasdaq: CDXS) Raises $78M”

  1. [...] week, biofuel developer Codexis sold shares as part of its much anticipated Initial Public Offering (IPO). The company sold shares for $13, which was on the low-end of the $13 – to – $15 [...]

  2. [...] developer, after raising more than $80 million from VC funds and strategic investors, turned to the public markets to secure its next batch of capital. While cleantech IPOs have generated quite a bit of buzz, the reality is that with most companies [...]

  3. [...] introductory price. Shares of second-generation biofuel maker Codexis (NASDAQ: CDXS) have flatlined since the company’s IPO a month ago. Jinko Solar (NYSE: JKS), the Chinese PV maker that did an IPO last week, is also [...]

  4. [...] far below their introductory price. Biofuel maker Codexis (NASDAQ: CDXS) is also trading below its introductory price, as is Chinese PV maker Jinko Solar (NYSE: JKS), which issued shares last [...]

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