Friday, May 27, 2011

Solazyme IPO on May 27, 2011

Note San Jose Mercury News headline: Bay Area biofuel IPO: Solazyme climbs 15% in debut

Online WSJ noted: Solazyme's stock opened at $20 a share on the Nasdaq, up 11% from its initial public offering price of $18, and was changing hands recently at $21.20, up 17.8%. It sold 10.98 million shares, 1 million more than planned, at a price above its expected $15 to $17 range.

Based in South San Francisco, Solazyme uses microalgae to create a variety of oils out of plant-based sugars. The company is targeting three markets: fuel and chemicals, nutritional oils, and oil used for personal-care products.


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