Synthetic biotechnology company Intrexon set the terms for its $125 initial public offering, according to an updated registration statement filed with the regulators Monday.
The Germantown, Md.-based company, which has agbiotech operations in Research Triangle Park through its 2011 acquisition of Agarigen, said it plans to register 8.3 million shares which would be sold in the range of $14 to $16 per share. At the midpoint of $15 per share, Intrexon would raise about $125 million.
Intrexon publicly disclosed its IPO plans on July 13. Intrexon says in its latest filing that after the IPO the company will have more than 93.8 million shares outstanding. At the $15 per share midpoint price, Intrexon is valuing the company at more than $1.4 billion. Intrexon plans to trade on the New York Stock Exchange under the symbol “XON.”
Intrexon works in synthetic biology, a field where biological molecules are engineered to control activity in or around cells. The technology is being researched for a number of health care applications, including new treatments for cancer.
The company’s Carolina connections came via acquisitions. Besides the Agarigen acquisition, the company in 2011 also acquired Immunologix, a company spun out of the Medical University of South Carolina that developed an antibodies platform technology.
Intrexon estimates that net proceeds from the IPO will be $113.5 million. That total could go up to $130.9 million if the underwriters of the offering exercise their full options to purchase additional shares. Intrexon said it would use proceeds from the offering to continue its R&D work as well as to reach agreements with partners.