Solazyme, Inc. IPO Nets up to $227 Million

Published: May 27, 2011

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.

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