Metabolix, Inc. Initial Public Offering Priced at $14.00 per Share
CAMBRIDGE, Mass., Nov 10, 2006 (BUSINESS WIRE) -- Metabolix, Inc. (NASDAQ: MBLX), announced today that its initial public offering of 6,800,000 shares of Common Stock was priced at $14.00 per share. Net proceeds of this offering are intended to be used to make investments in equipment for pilot manufacturing and commercial formulation of Natural Plastic and to fund working capital needs, including for pre-commercial manufacturing and marketing activities, for switchgrass biorefinery program research and development, for hiring of additional personnel, for other research and development and for general corporate purposes. Metabolix has granted the underwriters a 30-day option to purchase up to an additional 1,020,000 shares of common stock at the initial public offering price to cover over-allotments, if any. The shares will trade on the NASDAQ Global Market under the symbol "MBLX."
Piper Jaffray & Co. is acting as the book-running manager for the offering. Jefferies & Company, Thomas Weisel Partners LLC and Ardour Capital Investments, LLC are serving as co-managers.
Copies of the final prospectus relating to the offering may be obtained by contacting Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, Suite 800 Minneapolis, MN 55402-7020 or by telephone at (877) 371-5212.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on November 9, 2006. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 registration or qualification under the securities laws of any such state or jurisdiction.
About Metabolix
Founded in 1992, Metabolix, Inc. is developing and commercializing environmentally sustainable and totally biodegradable Natural Plastic as a clean alternative to petroleum-based plastics. The Company is taking a systems approach, from gene to end product, to integrate sophisticated biotechnology with current industrial practice to produce plastics, fuels and chemicals from renewable resources. In addition to its microbial fermentation platform for production of Natural Plastic, Metabolix is also developing a proprietary platform technology for co-producing, in non-food plant crops such as switchgrass, Natural Plastic and biomass for biofuels such as ethanol and for chemical products. For more information, please visit www.metabolix.com.
SOURCE: Metabolix, Inc.
For Metabolix, Inc. Investor Relations: Kathleen Heaney, 203-803-3585 or Media: Jackie Kolek, 203-682-8200 Or Metabolix, Inc. James J. Barber, President and CEO Thomas G. Auchincloss, Chief Financial Officer
Copyright Business Wire 2006
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