Ceres revises IPO, aims to raise $132M at $21-$23 per share, as roadshow begins

In California, seed maker Ceres has filed with the SEC in a bid to raise up to $132 million in an IPO.  The company will offer 5 million shares for sale at $21 to $23 per share.  Underwriters, Barclays, Goldman Sachs, Piper Jaffray, Raymond James Financial, and Simmons will be allowed to purchase an additional 750,000 shares each.

Most of the monies raised are expected to be used to build additional facilities, hiring, and continued development and commercialization of their crop seeds, such as high biomass sorghum, sweet sorghum, and switchgrass.