Elevance files for $100M IPO

11th company to file in 2010-11 industrial biotech IPO window

In Illinois, Elevance Renewable Sciences filed its S-1 registration statement relating to a proposed $100 million initial public offering. The number of shares to be offered and the price range for the offering have not yet been determined. The company indicated that it has apply to list the stock on NASDAQ under the ERSI symbol.

The company is currently ranked #15 in the world in the 2011-12 “30 Hottest Companies in Renewable Chemicals and Materials” rankings.  The rankings recognize innovation and achievement in fuels, and renewable chemicals or materials development, respectively, and are based on votes from a panel of invited international selectors, and votes from Digest subscribers.

Underwriters for the offering are Morgan Stanley, J.P. Morgan, Jeffries & Co, Piper Jaffray and Raymond James.

With this filing, Elevance becomes the 11th company to file for an IPO in the industrial biotech boom, which began with a successful listing on the NASDAQ by Copdexis in 2010. IPOs by Amyris, Gevo, Solazyme, and KiOR have followed. In recent months, PetroAlgae, Myriant, Ceres, Genomatica and Mascoma have also filed S-1 registrations for proposed IPOs.

The complete S-1 registration statement is here.

The Digest will publish its “Elevance’s IPO: The Ten-Minute Version” on Thursday, September 22 (tomorrow) by 9AM Eastern time.