Zymergen Announces Closing of Upsized Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Zymergen has successfully closed its initial public offering (IPO) of 18,549,500 shares at a price of $31.00 each, raising approximately $575 million in gross proceeds. The underwriters exercised their option to purchase an additional 2,419,500 shares. The shares are now listed on the Nasdaq under the ticker symbol 'ZY'. J.P. Morgan and Goldman Sachs are the lead book-running managers for this offering. Zymergen specializes in biofacturing, using advanced technology to produce bio-based products across various industries.

Positive

• Raised approximately $575 million in gross proceeds from the IPO.
• Shares listed on the Nasdaq under the ticker symbol 'ZY', enhancing market visibility.

Negative

• Potential dilution of existing shares due to the new issuance of 18,549,500 shares.

EMERYVILLE, Calif., April 26, 2021 (GLOBE NEWSWIRE) -- Zymergen Inc. (“Zymergen”), one of the world’s foremost biofacturing companies, today announced the closing of its initial public offering of 18,549,500 shares of its common stock, including the full exercise by the underwriters of their option to purchase 2,419,500 additional shares of common stock, at a public offering price of $31.00 per share. The shares are listed on the Nasdaq Global Select Market under the ticker symbol “ZY”.  The gross proceeds from the offering to Zymergen, before deducting underwriting discounts and commissions and other offering expenses payable by Zymergen, are approximately $575 million.

J.P. Morgan and Goldman Sachs & Co. LLC are acting as lead book-running managers for the offering. BofA Securities, Cowen and UBS Investment Bank are acting as book-running managers. Lazard is acting as co-manager.

The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com; or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com.

Registration statements relating to the sale of these securities have been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Zymergen
Zymergen is a biofacturing company using biology to reimagine the world. Zymergen partners with nature to design, develop and manufacture bio-based breakthrough products that deliver value to customers in a broad range of industries. A unique combination of biology, chemistry, software and automation enables the company to design and create new materials.

Investor Contact
Niraj Javeri
investors@zymergen.com

Media Contact
Mike Dulin
mdulin@zymergen.com
502-777-2029

FAQ

What is the IPO price of Zymergen's shares?

Zymergen's shares were offered at a public price of $31.00 each during their IPO.

How much capital did Zymergen raise from the IPO?

Zymergen raised approximately $575 million in gross proceeds before deductions.

Who managed Zymergen's initial public offering?

J.P. Morgan and Goldman Sachs acted as lead book-running managers for Zymergen's IPO.

What is the ticker symbol for Zymergen's stock?

Zymergen's stock is listed on the Nasdaq under the ticker symbol 'ZY'.

What does Zymergen do?

Zymergen is a biofacturing company leveraging biology to create innovative, bio-based products across various industries.