Solazyme is raising $197.55 million in an initial public offering (IPO). The U.S. renewable oil and bio-products provider is offering 10.375 million shares, while its current stockholders are issuing 600,000 shares at $18 per share.
The California-based company will not receive any proceeds from the sale of shares by the selling stockholders. Morgan Stanley and Goldman Sachs are the joint book-running managers for the offering.
Click here for the release from Business Wire.