Solazyme, Inc. IPO Nets up to $227 Million  
5/27/2011 7:29:28 AM

Algae-based biofuel company Solazyme Inc. has upped its IPO price to $18 a share.

The maker of renewable oil and bioproducts had earlier estimated a share price of $15 to $17 for its initial public offering.

South San Francisco-based Solazyme and its shareholders will offer about 10.9 million shares of its common stock, and underwriters are granted a 30-day option to purchase up to an additional 1.6 million shares to cover over-allotments, if any.