2011-05-26: SZYM, Solazyme

Remark
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IPO Date & Price
Symbol: SZYM, Solazyme
IPO date: 2011-05-26
Offer price/share: $18 x 11M = $198M

Underwriters
Joint Book Runner: Morgan Stanley, Goldman, Sachs & Co.
Co Manager: Jefferies & Co., Pacific Crest, Lazard Capital Markets

Business
Sector: Basic Materials
Industry: Chemicals - Major Diversified
Full Time Employees: 116
Founded: 2003

Transforms plant-based sugars into petroleum-based chemicals and fuels.

Solazyme, Inc. engages in the production of renewable oil. Its proprietary technology transforms a range of plant-based sugars into oils. The company’s industrial biotechnology platform harnesses the prolific oil-producing capability of microalgae. Solazyme utilizes industrial fermentation equipment to scale and accelerate microalgae’s natural oil production time to a few days. The company’s biotechnology platform also helps in the production of bioproducts, which are made from the protein, fiber, and other compounds produced by microalgae. It intends to refine and sell renewable oil as drop-in replacements for marine, motor vehicle, and jet fuels, as well as replacements for chemicals that are traditionally derived from petroleum or other conventional oils. Solazyme also develops microalgae-based food ingredients, including oils and powders that enhance the nutritional profile and functionality of food products; and a portfolio of microalgae-based products comprising Alguronic Acid, which would be formulated into a range of skin care products with significant anti-aging benefits and algal oils as replacements for the essential oils currently used in skin and personal care products. The company was founded in 2003 and is headquartered in South San Francisco, California

Yahoo: http://finance.yahoo.com/q/pr?s=SZYM