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PE-Backed Ceres Plans $100M IPO–CORRECTED

This story initially reflected Ceres was based in Boston.

Agricultural biotechnology company Ceres Inc., whose shareholders include Warburg Pincus and Monsanto Co., has filed to raise up to $100 million in an initial public offering, Reuters reported. The Thousand Oaks, CA.-based company will use the proceeds for seed production, general corporate purposes and acquisitions. Barclays Capital and Goldman Sachs will be the underwriters.

(Reuters) – Agricultural biotechnology company Ceres Inc filed with U.S. regulators on Monday to raise up to $100 million in an initial public offering of its common stock.

The filing did not reveal how many units the company planned to sell or their expected price, but Ceres said it will use the proceeds for seed production, general corporate purposes and may also use a portion for acquisitions.

The Boston, Massachusetts-based company’s stakeholders include private equity firms Warburg Pincus and Monsanto Company.

Barclays Capital and Goldman Sachs will be the underwriters, the company said in a filing with the U.S. Securities and Exchange Commission.

The company intends to apply to list on NASDAQ under the symbol “CERE”.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO can be different. (Reporting by Aditi Sharma in Bangalore; Editing by Sriraj Kalluvila)