Enzymotec raises $62 mln for IPO

Enzymotec Ltd. has priced its IPO of 4,412,000 shares at $14 per share for a value of $62 million. The stock started trading Friday on the NASDAQ under the ticker symbol “ENZY.” BofA Merrill Lynch and Jefferies LLC are underwriting the IPO with Wells Fargo Securities serving as lead manager. Based in Israel, Enzymotec is is a provider of specialty lipid-based products and solutions. The company’s shareholders include XT Hi-Tech Investments, Millennium Materials Technologies Fund, Arancia International and BIP Venture Partners.


MIGDAL HA’EMEQ, Israel, Sep 26, 2013 (GLOBE NEWSWIRE via COMTEX) — Enzymotec Ltd. today announced the pricing of its initial public offering of 4,412,000 ordinary shares at a price of $14.00 per share. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 661,800 ordinary shares from the Company at the initial public offering price.
The shares are expected to begin trading on the NASDAQ Global Select Market under the ticker symbol “ENZY” beginning on September 27, 2013. The offering is expected to close on October 2, 2013, subject to customary closing conditions.
The Company expects to receive net proceeds from the offering of approximately $54.9 million, after deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds from the offering to meet its anticipated increased working capital requirements resulting from the expected growth in the Company’s business and for other general corporate purposes.
BofA Merrill Lynch and Jefferies LLC are acting as joint book-running managers for the offering. Wells Fargo Securities, LLC is acting as lead manager for the offering. Canaccord Genuity and Wedbush Securities are acting as co-managers for the offering.
This offering is being made solely by means of a prospectus, copies of which may be obtained from either: BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department or emailing dg.prospectus_requests@baml.com; or Jefferies LLC, 520 Madison Ave, 12th Floor, New York, NY 10022, 877-547-6340, email: Prospectus_Department@Jefferies.com.
A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Enzymotec Ltd.
Enzymotec is a leading global supplier of specialty lipid-based products and solutions. The Company develops, manufactures and markets innovative bio-functional lipid ingredients, as well as final products, based on sophisticated processes and technologies.