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UPDATE 1-Ceres Inc files for IPO of up to $100 mln
May 23, 2011 / 10:52 AM / in 7 years

UPDATE 1-Ceres Inc files for IPO of up to $100 mln

* Barclays Capital, Goldman Sachs to underwrite the IPO

* Intends to list on NASDAQ under “CERE” (Follows alerts)

May 23 (Reuters) - Agricultural biotechnology company Ceres Inc filed with U.S. regulators on Monday to raise up to $100 million in an initial public offering of its common stock.

The filing did not reveal how many units the company planned to sell or their expected price, but Ceres said it will use the proceeds for seed production, general corporate purposes and may also use a portion for acquisitions.

The Boston, Massachusetts-based company’s stakeholders include private equity firms Warburg Pincus and Monsanto Company.

Barclays Capital and Goldman Sachs will be the underwriters, the company said in a filing with the U.S. Securities and Exchange Commission.

The company intends to apply to list on NASDAQ under the symbol “CERE”.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO can be different. (Reporting by Aditi Sharma in Bangalore; Editing by Sriraj Kalluvila)

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