Metabolix to raise $7.5 million from PIPE connected to public offering

By Sheri Kasprzak

New York, July 14 - Metabolix, Inc. said Archer Daniels Midland Co. has agreed to purchase $7.5 million of its stock in a private placement connected to the company's $87 million public offering.

Neither the terms of the private placement nor the terms of the public offering have been determined at this time.

Piper Jaffray is the bookrunner for the public offering with Jefferies & Co., Thomas Weisel Partners LLC and Ardour Capital Investments, LLC as co-agents.

Based in Cambridge, Mass., Metabolix develops alternatives to petrochemical-based plastics, fuels and chemicals.

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