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.
Marrones 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.