Codexis, Inc. announced Tuesday that it has filed a registration statement with the Securities and Exchange Commission (SEC) for an initial public offering of its common stock.
The San Francisco-based company is a provider of biocatalysts being developed for the production of advanced biofuels. The biocatalysts are also used in other industrial processes and have been commercialized in the pharmaceutical industry.
The company says it also is using its
technology platform to pursue biocatalyst-enabled solutions in other markets, including carbon management, water treatment and
chemicals.
The company hopes to raise $100 million through a listing on Nasdaq, according to the Wall Street Journal. The company's fortunes rely heavily on the continued interest of Shell (NYSE: RDS-B), which owns a 20% stake and funds a research collaboration that extends through November 2012, the Los Angeles Times reports.
The company also has worked with pharmaceutical companies Dr. Reddy's Laboratories Ltd., Merck & Co., Pfizer Inc., and Ranbaxy Laboratories Ltd.
Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. will be acting as joint book-running managers, with RBC Capital Markets Corporation and Pacific Crest Securities LLC acting as co-managers for the offering.
Wall Street Journal notes that the last biofuels IPO was in December 2007, when Chinese biodiesel maker Gushan Environmental Energy Ltd. (NYSE: GU) first listed.
