Biotech company Codexis, which sells catalysts for biofuel production, went public on the stock market on Thursday, opening at the low end of its anticipated price range.
The Redwood City, Calif.-based company sold 6 million shares on Nasdaq for $13, raising $78 million. It had planned to sell them between $13 and $15. The company, which has a market capitalization of about $441 million, had originally hoped for an initial public offering in 2008, according to reports.
Instead, its debut marks this year's first IPO for a U.S.-based green-tech company.
Codexis has customers in the pharmaceutical … Read more