* Prices shares at $16 vs $18-$20 range-underwriter
* Sells 5.3 mln shares, raises about $84.8 mln-underwriter
* Expected to trade on Nasdaq under symbol "AMRS"
NEW YORK, Sept 27 Amyris Inc (AMRS.O), which
uses yeast to convert plant sugars into the building blocks of
anti-malarial drugs, priced shares in its initial public
offering below the range on Monday, according to an
The company sold 5.3 million shares for $16 each, raising
about $84.8 million. It had planned to sell 5.3 million shares
for $18 to $20 each.
French drugmaker Sanofi-Aventis SA (SASY.PA) is expected to
begin distributing anti-malarial drugs based on Amyris'
technology in 2012.
Amyris is currently in the process of working with
Brazilian sugar and ethanol producers to create chemicals that
can be used in detergents, cosmetics, perfumes, industrial
lubricants and diesel.
Amyris's total revenue has increased each year since 2005
but it has posted increasing losses each year. In the six
months ended June 30 the company posted a net loss attributable
to stockholders of $36.1 million on total revenue of $26.36
The Emeryville, California-based company's backers include
Total Gas & Power, and funds affiliated with Kleiner Perkins
Caufield & Byers, Khosla Ventures and TPG Biotechnology
It said it would use proceeds from the IPO for capital
expenditures, working capital and general corporate purposes,
including building production facilities.
Underwriters on the Amyris IPO were led by Morgan Stanley,
Goldman Sachs and JPMorgan. The shares are expected to begin
trading on the Nasdaq on Tuesday under the symbol "AMRS."
(Reporting by Clare Baldwin and Maria Aspan)