Gevo, the biofuels startup spawned out of technology from the University of California, Los Angeles and Caltech, has set an offering range for its IPO. Gevo, which started in Pasadena but is now located in Englewood, Colorado, said it is looking to sell 7,150,000 shares of its common stock at between $13.00 and $15.00 per share. Gevo had filed for an IPO in August. Gevo is venture backed by Khosla Ventures, Virgin Green Fund, Total Energy Ventures, Burrill Life Sciences Capital Fund, Malaysian Life Sciences Capital Fund, and LANXESS, among others. The firm's technology is based on research form UCLA focused on producing next-generation biofuels through genetically modified Escherichia coli (E. coli) bacteria, as well as technology from Caltech from the lab of Dr. Frances Arnold. Gevo moved to Colorado in 2008. Gevo is one of at least two firms whose roots are in Southern California to hit the markets in the past few months; Sunnyvale-based Inphi Corp., which stated in Westlake Village and still has operations there, hit the markets in November.
Top NewsWednesday, January 19, 2011
Gevo Sets Range For IPO