VC-Backed BioAmber to Raise 31% Fewer IPO Proceeds
BioAmber Inc., which has developed a technology platform for converting renewable feedstocks into chemicals including succinic acid, lowered the proposed deal size for its initial public offering to US$88 million. As a result, it is estimated that the company will raise 31% fewer proceeds than previously anticipated. BioAmber, which has offices in Montréal and Minneapolis, Minnesota, is venture-backed. Its investors include Clifton Group, LANXESS, Mitsui, Naxos Capital and Sofinnova Partners.
8 May 2013•1 min read
