Zymergen Announces Pricing of Upsized Initial Public Offering

Rhea-AI Summary

Zymergen has priced its initial public offering (IPO) at $31.00 per share, offering 16,130,000 shares. The underwriters have a 30-day option to acquire an additional 2,419,500 shares. The total expected gross proceeds to the company are approximately $500 million, excluding any exercise of the underwriters’ option. Zymergen's common stock is set to trade on the Nasdaq under the ticker 'ZY' starting April 22, 2021, with the offering closing on April 26, 2021, pending customary conditions.

Positive

• Initial public offering priced at $31.00 per share.
• Expected gross proceeds of approximately $500 million.
• 30-day option for underwriters to purchase additional shares.

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• None.

EMERYVILLE, Calif., April 21, 2021 (GLOBE NEWSWIRE) -- Zymergen Inc. (“Zymergen”), one of the world’s foremost biofacturing companies, today announced the pricing of its initial public offering of 16,130,000 shares of its common stock at a public offering price of $31.00 per share. In addition, Zymergen has granted the underwriters a 30-day option to purchase up to an additional 2,419,500 shares of its common stock at the initial public offering price, less underwriting discounts and commissions. Zymergen’s common stock is expected to begin trading on the Nasdaq Global Select Market on April 22, 2021 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 expected to be approximately $500 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on April 26, 2021, subject to the satisfaction of customary closing conditions.

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 is being made only by means of a prospectus, copies of which may be obtained, when available, 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.

A registration statement relating to the sale of these securities has 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 for Zymergen's shares?

Zymergen's initial public offering is priced at $31.00 per share.

How many shares is Zymergen offering in its IPO?

Zymergen is offering 16,130,000 shares in its initial public offering.

When will Zymergen start trading on Nasdaq?

Zymergen's common stock is expected to begin trading on Nasdaq on April 22, 2021.

What are the expected proceeds from Zymergen's IPO?

The expected gross proceeds from Zymergen's IPO are approximately $500 million.

When is the closing date for Zymergen's IPO?

The offering for Zymergen is expected to close on April 26, 2021.