Amyris Biotechnologies, which genetically modifies yeast strains to operate an industrial synthetic biology platform that provides petroleum alternatives, announced terms for its IPO on Monday. The Emeryville, CA-based company plans to raise $101 million by offering 5.3 million shares at a price range of $18-$20. At the mid-point of the proposed range, Amyris will command a market value of $850 million. Amyris Biotechnologies, which was founded in 2003 and booked $68 million for the 12 months ended June 30, plans to list on the NASDAQ under the symbol AMRS. The biofuels company expects to use IPO proceeds for capital expenditures, including expanding engineering services capabilities to support sugar and ethanol mill conversion. Morgan Stanley, Goldman, Sachs & Co. and J.P. Morgan are the lead underwriters on the deal, which is expected to price during the week of September 27.
