Baird served as a co-manager on this offering
AboutMarrone Bio Innovations, Inc. (“Marrone” or the “Company”) (NASDAQ: MBII) recently completed a follow-on offering of 5,175,000 shares of common stock at a price of $9.50 per share, generating gross proceeds of approximately $49.2 million. Marrone intends to use the net proceeds from the offering for working capital required to accelerate the commercial adoption of its existing products, to accelerate the development of its product pipeline and to expand its network of strategic relationships, for capital expenditures, including to purchase equipment to facilitate its research and development efforts and to accelerate completion of the manufacturing facility it acquired in July 2012, and for general corporate purposes, such as acquiring complementary businesses, products or technologies.
Marrone manufactures natural pest management and plant health products, comprised of naturally occurring microorganisms, such as bacteria, fungi and plant extracts. The Company targets the major markets that use conventional chemical pesticides, including certain agricultural and water markets, where its products are used as substitutes for, or in conjunction with, conventional chemical pesticides. Marrone also targets new markets for which there are no available conventional chemical pesticides or the use of conventional chemical products may not be desirable or permissible because of health and environmental concerns. All of the Company’s current products are approved by the Environmental Protection Agency, or EPA, and registered as “biopesticides,” or biological pesticides based on microorganisms, plants and other natural products. The Company’s current portfolio of products and product pipeline address the growing global demand for effective, safe and environmentally responsible products. Marrone is headquartered in Davis, California.
For additional information about this transaction, please contact:
- June 2014
- Marrone Bio Innovations, Inc.
- Target Location
- North America