Marrone Bio Innovations, a producer of bio-based pest management and plant health products, announced terms for its IPO on Monday. The Davis, CA-based company plans to raise $65 million by offering 4.2 million shares at a price range of $14 to $17. At the midpoint of the proposed range, Marrone Bio Innovations would command a fully diluted market value of $286 million.
Marrone Bio Innovations, which was founded in 2006 and booked $8 million in sales for the 12 months ended March 31, 2013, plans to list on the NASDAQ under the symbol MBII. Marrone Bio Innovations initially filed confidentially on May 11, 2012. Jefferies and Piper Jaffray are the joint bookrunners on the deal.
