Ceres Inc., an agricultural biotech company backed by Warburg Pincus and Monsanto Co., has added two new underwriters to its $100 million initial public offering. Raymond James and Simmons & Company International join existing underwriters, Reuters reported. The company is based in
(Reuters) – Agricultural biotechnology company Ceres Inc added two more underwriters to its $100 million initial public offering.
The company, which filed with U.S. regulators in May to raise up to $100 million in a public offering, added Raymond James and Simmons & Company International to its existing three underwriters.
The Boston, Massachusetts-based company’s IPO is being spearheaded by investment banking heavyweights such as Goldman Sachs and Barclays Capital.
The filing did not reveal how many shares 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 company is backed by private equity firm Warburg Pincus and Monsanto Company , among others.
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 Sumit Jha in Bangalore; Editing by Gopakumar Warrier)