Business & Real Estate

Marrone Bio announces pricing in common stock offering

Davis biotech firm Marrone Bio Innovations Inc. said Tuesday that it is offering more than 5.7 million registered shares of its common stock at a public price of $1.40 a share, which would generate about $8 million.

Marrone announced Monday that it intended to offer shares of its common stock in an underwritten public offering.

The company said it has granted the underwriter a 45-day option to purchase up to an additional 857,143 shares of common stock offered in the public offering to cover over-allotments, if any.

The offering is expected to close Friday, subject to standard conditions.