Zymergen Announces Closing of Upsized Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
Zymergen has successfully closed its initial public offering (IPO) of 18,549,500 shares at a price of $31.00 each, raising approximately $575 million in gross proceeds.
Sentiment and the balance of points
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Rhea-AI Summary
Zymergen has successfully closed its initial public offering (IPO) of 18,549,500 shares at a price of $31.00 each, raising approximately $575 million in gross proceeds. The underwriters exercised their option to purchase an additional 2,419,500 shares. The shares are now listed on the Nasdaq under the ticker symbol 'ZY'. J.P. Morgan and Goldman Sachs are the lead book-running managers for this offering. Zymergen specializes in biofacturing, using advanced technology to produce bio-based products across various industries.
Positive
- Raised approximately $575 million in gross proceeds from the IPO.
- Shares listed on the Nasdaq under the ticker symbol 'ZY', enhancing market visibility.
Negative
- Potential dilution of existing shares due to the new issuance of 18,549,500 shares.
Details
News Market Reaction – ZY
The recorded move for ZY in the trading session of this news was +5.42%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
EMERYVILLE, Calif., April 26, 2021 (GLOBE NEWSWIRE) -- Zymergen Inc. (“Zymergen”), one of the world’s foremost biofacturing companies, today announced the closing of its initial public offering of 18,549,500 shares of its common stock, including the full exercise by the underwriters of their option to purchase 2,419,500 additional shares of common stock, at a public offering price of
J.P. Morgan and Goldman Sachs & Co. LLC are acting as lead book-running managers for the offering. BofA Securities, Cowen and UBS Investment Bank are acting as book-running managers. Lazard is acting as co-manager.
The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com; or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com.
Registration statements relating to the sale of these securities have been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Zymergen
Zymergen is a biofacturing company using biology to reimagine the world. Zymergen partners with nature to design, develop and manufacture bio-based breakthrough products that deliver value to customers in a broad range of industries. A unique combination of biology, chemistry, software and automation enables the company to design and create new materials.
Investor Contact
Niraj Javeri
investors@zymergen.com
Media Contact
Mike Dulin
mdulin@zymergen.com
502-777-2029
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