IPO Watch: BioEnergy Seed IPO Filing from Ceres (CERE, MON)

24ywallst.com
Posted: May 23, 2011 at 9:31 am

We have another initial public offering most likely coming this way. Ceres, Inc. has filed to come public in an IPO and will trade under the “CERE” ticker on NASDAQ. No financial terms were set as far as a number of shares or price range other than that the filing is initially for up to $100,000,000.00 in common stock. The underwriters were named as Goldman Sachs and Barclays Capital.

Ceres is an agricultural biotechnology outfit that sells seeds to produce renewable biomass feedstocks that can enable the large-scale replacement of petroleum and other fossil fuels. It uses a combination of advanced plant breeding and biotechnology to develop new crops (dedicated energy crops) to address the limitations of first-generation bioenergy feedstocks like corn and sugarcane. It also aims to increase biomass productivity, reduce crop inputs and improve cultivation on marginal land. The company is based in Thousand Oaks, California and was incorporated under Delaware Law in 1996.

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