Ceres, which produces renewable bioenergy feedstocks, announced terms for its IPO on Wednesday. The Thousand Oaks, CA-based company plans to raise $110 million by offering 5 million shares at a price range of $21.00 to $23.00. At the mid-point of the proposed range, Ceres will command a market value of $550 million. Ceres, which was founded in 1996 and booked $7 million in sales for the 12 months ended November 30, 2011, plans to list on the NASDAQ under the symbol CERE. Backers include Artal Luxembourg, Gimv, Oppenheimer Growth, Oxford Bioscience Partners, Soros and Warburg Pincus. Goldman Sachs, Barclays Capital, Piper Jaffray, Raymond James and Simmons & Company have been selected to manage the offering.
