Trellis Earth Products, which develops and sells bio-plastics created from biomass sources, filed on Friday with the SEC to for an initial public offering. Trellis specializes in converting renewable sources, such as soybeans, corn, and wheat, into plastic products, specifically disposable plastic bags, cutlery, and trash liners. The company plans to raise $22 million by offering 4 million shares at a price range of $5.00 to $6.00. At the mid-point of the proposed range, Trellis Earth Products will command a market value of $52 million. The Wilsonville, OR-based company, which was founded in 2006 and booked $3 million in sales for the 12 months ended June 30, 2011, plans to list on the NASDAQ under the symbol TREL. Aegis Capital Corporation is the lead underwriter on the deal. No timing has been announced.
