Wednesday, October 1, 2014
YOLO COUNTY NEWS
99 CENTS

Davis-based company announces initial plans to go public

By
From page A1 | July 03, 2013 |

Pam Marrone founded Marrone Bio Innovations in Davis. Enterprise file photo

Marrone Bio Innovations announced this week that it has initiated a process that — if completed without a hiccup — would move the local biopesticide startup company into public ownership.

Though no date has been established for that to happen, the company took the first step by filing a registration statement of the form S-1 with the Securities and Exchange Commission for a proposed initial public offering of stock.

The provider of bio-based pest management and plant health products has grown to more than 100 employees since it set root in Davis in 2006. In that time, it has commercialized three award-winning products and has more in testing phases at the company’s plant at 2121 Second St.

Marrone Bio Innovations announced in March plans to retrofit a once-shuttered biodiesel plant in rural Michigan, and double its workforce within three years. The latest news from the company, however, is its intention to trade shares on public markets.

Initial public offerings are used by companies to raise expansion capital, to possibly monetize the investments of early private investors and to become publicly traded enterprises.

Investment banks Jefferies LLC and Piper Jaffray & Co. will act as lead joint book-running managers for the offering, and Stifel, Nicolaus & Company and Roth Capital Partners were named as co-managers.

The number of shares to be sold, and the associated price range, has not yet been stated. Shares cannot be sold until the registration statement filed with the SEC has been declared effective.

Further comment from the company was not available this week, as there is a “quiet period” following the filing of a company’s S-1. During this time, there are legal restrictions on what can be discussed or promoted, at least until the SEC staff declares the registration statement effective.

On June 27, Marrone Bio Innovations also announced that it received the federal patent for sarmentine, the active ingredient in one of its new bioherbicides. It’s the first patent on a product candidate that researchers in the Davis lab themselves discovered and isolated.

Other commercial products of the biopesticide company, which was founded by Davis resident Pam Marrone, have come from licensed microbes granted through resources such as USDA’s technology transfer program.

Marrone is an entrepreneur with 30 years of experience in the agriculture industry. She previously founded another Davis-based company, AgraQuest, in 1995, where she served as head of the business unit until April 2006.

AgraQuest had its first bid to go public derailed by the terrorist attacks on Sept. 11, 2001. Marrone was reported as saying a few years later that the bubble in the tech market bursting was a further hindrance to proposing an initial public offering.

But the biopesticide industry is seeing rapid growth in today’s economy. The market is expected to grow up to $3.2 billion by 2017, according to a report published by MarketsandMarkets.

— Reach Brett Johnson at bjohnson@davisenterprise.net or 530-747-8052. Follow him on Twitter at @ReporterBrett

Comments

comments

.

News

Jury: Marsh legally sane during murders

By Lauren Keene | From Page: A1 | Gallery

 
Undocumented Student Center offers help to immigrants

By Julia Ann Easley | From Page: A1 | Gallery

Rairdan supports more inquiry-based learning

By Jeff Hudson | From Page: A1 | Gallery

 
Standing In: Don’t write? I may as well stop breathing

By Special to The Enterprise | From Page: A2

 
Woodland man convicted in domestic violence case

By Enterprise staff | From Page: A2

Apply soon to be a Master Gardener

By Enterprise staff | From Page: A2

 
Katehi will address Rotarians on Monday

By Enterprise staff | From Page: A3

 
Mondavi Center hosts all-star lineup of classical, jazz, dance and more

By Enterprise staff | From Page: C3 | Gallery

Willett students sensitized to those who are different

By Maria Clayton | From Page: A3 | Gallery

 
Friends of the Library host biggest book sale of the year

By Enterprise staff | From Page: A3

Give blood and get a free movie ticket

By Enterprise staff | From Page: A3

 
Pedal around Davis on weekly bike ride

By Enterprise staff | From Page: A3

‘Edible City’ discussion planned

By Enterprise staff | From Page: A3

 
TSA bomb training may be noisy

By Enterprise staff | From Page: A3

AIM testing dates set this fall, winter

By Jeff Hudson | From Page: A4

 
Tour Honey Bee Haven on Friday

By Enterprise staff | From Page: A4

Woodland City Cemetery tours planned

By Enterprise staff | From Page: A4

 
 
‘ADHD — Myth or Reality’ addressed at UCD talk

By Enterprise staff | From Page: A4

 
Quotes from the Marsh double-murder trial

By Lauren Keene | From Page: A5 | Gallery

 
UCD athletics have break-from-work entertainment for everyone

By Bruce Gallaudet | From Page: C5 | Gallery

Quad abuzz with students

By Tanya Perez | From Page: A7 | Gallery

 
Wetlands visitors may see ducks arriving

By Enterprise staff | From Page: A10 | Gallery

Boy Scouts host family event in park

By Enterprise staff | From Page: A10

 
How did the Aggies get their name?

By Enterprise staff | From Page: C12

.

Forum

Hey, it’s free childcare …

By Creators Syndicate | From Page: B5

 
Will you open your heart, and your home?

By Special to The Enterprise | From Page: A6

 
The right vote for education

By Letters to the Editor | From Page: A6

Just what Davis schools need

By Letters to the Editor | From Page: A6

 
Tom Meyer cartoon

By Debbie Davis | From Page: A6

Nolan’s a calm voice of reason

By Letters to the Editor | From Page: A6

 
.

Sports

DHS girls tennis team tames Lions

By Enterprise staff | From Page: B1 | Gallery

 
Devil girls play dynamite pool defense

By Spencer Ault | From Page: B1 | Gallery

Davis volleyballers finish strong at Franklin

By Enterprise staff | From Page: B1

 
Hard-working Blue Devil boys get a water polo win

By Spencer Ault | From Page: B1 | Gallery

A’s fall as AL wild-card game lives up to its name

By The Associated Press | From Page: B1 | Gallery

 
Legacy roundup: Milliennium takes Manteca tournament

By Enterprise staff | From Page: B2

AYSO roundup: Beans, Capay can’t shake each other in U19 play

By Enterprise staff | From Page: B2 | Gallery

 
Alliance roundup: Los Azules, Italia win tourneys

By Enterprise staff | From Page: B3 | Gallery

Sports briefs: Real Salt Lake has too much for Republic

By Enterprise staff | From Page: B8

 
.

Features

From the ground up: Rediscovering classic cheesecake

By Ann Evans | From Page: A10 | Gallery

 
.

Business

.

Obituaries

Leonard D. Blackford

By Special to The Enterprise | From Page: A4

 
Anne Elizabeth Elbrecht

By Special to The Enterprise | From Page: A4

.

Comics

Comics: Wednesday, October 1, 2014

By Creator | From Page: A8