Marrone prices latest share offer
Some 4.5 million shares of common stock of the US biopesticide company, Marrone Bio Innovations (MBI - Davis, California), are to be sold at $9.50 per share in a follow-on public offering. MBI will sell 3.9 million shares and the remaining 600,000 shares will be sold by an existing shareholder, Syngenta Ventures. In addition, the underwriters have a 30-day option to purchase up to 675,000 additional shares. MBI intends to use the funds raised to assist the commercial adoption of its existing products, accelerate the development of its product pipeline, expand its network of strategic relationships and accelerate the completion of its manufacturing facility (Agrow No 689, p 3).