Marrone Bio Innovations sets $14-$17 price range for IPO of stock

Jefferies, Piper Jaffray are bookrunners; Roth Capital, Stifel assist

By Toni Weeks

San Luis Obispo, Calif., July 22 - Marrone Bio Innovations, Inc. set the price range for its previously announced initial public offering of common stock with a 30-day greenshoe, according to an amended S-1 filing made Monday with the Securities and Exchange Commission. The company intends to list its common stock on the Nasdaq under the symbol "MBII."

Marrone plans to sell 4.2 million common shares at $14.00 to $17.00 apiece for maximum proceeds of up to $71.4 million. There is a greenshoe of an additional 630,000 shares for further potential proceeds of $10.71 million.

Jefferies LLC and Piper Jaffray & Co. are the joint bookrunning managers. Roth Capital Partners, LLC and Stifel, Nicolaus & Co., Inc. are the co-managers.

Proceeds will be used to expand capacity at the company's manufacturing facility, for other capital expenditures, including purchasing equipment to facilitate research and development efforts, for working capital and for other general corporate purposes.

Based in Davis, Calif., Marrone makes bio-based pest management and plant health products.

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