Marrone Bio widens stock offering

Published: Monday, Jun. 2, 2014 - 11:58 pm

Davis biotech company Marrone Bio Innovations Inc. is expanding its proposed public stock offering.

In a filing Monday with the Securities and Exchange Commission, the maker of eco-friendly pesticides said it could sell up to 4.6 million shares for an estimated total of $41 million.

When it first filed to offer shares, Marrone Bio said the sale would generate a maximum of $35 million.

Marrone Bio said the company itself plans to sell 3.4 million shares. One of its shareholders, a Singapore investment firm called Syngenta Ventures, plans to sell 600,000 shares, bringing the offering to 4 million shares. In addition, the underwriting firms have been granted options to purchase another 600,000 shares, according to the SEC filing.

Marrone’s share price closed Monday at $9.82, down $1.05, on the Nasdaq global market.

Marrone first went public last August in a deal that raised $57 million for the eight-year-old company.

Read more articles by Dale Kasler

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