Davis biotech firm Marrone Bio Innovations Inc. said Monday that it is proposing to offer shares of its common stock in an underwritten public offering.
The company expects to grant the underwriter a 45-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering to cover over-allotments, if any.
Marrone said it intends to use net proceeds from the offering primarily for general corporate purposes, which may include operating expenses, working capital to improve and promote its commercial products, developing more products, expanding its international presence and general capital expenditures.
The final terms of the offering will depend on market and other conditions at the time of pricing.
National Securities Corp. is the sole book-running manager for the offering. A preliminary prospectus supplement relating to the offering has been filed with the Securities and Exchange Commission and is available at sec.gov.
Copies of the preliminary prospectus supplement and accompanying base prospectus may be obtained by contacting the National Securities Corp.; 410 Park Ave., 14th Floor; New York, NY 10022; Attn: Marguerite Rogers, or by calling 212-417-8227.