Tuesday, April 12, 2011

KIOR Files For IPO

Pasadena, Texas-based KIOR, a developer of renewable fuels technology to convert biomass into oil, has filed for an IPO, saying late Monday that it is looking to raise up to $100M in an IPO on the Nasdaq Global Market. The firm said it has applied to trade under the symbol KIOR. The firm's IPO is being underwritten by Credit Suisse, UBS investment Bank, Goldman Sachs & Co., Piper Jaffray, Citi, and Deutsche Bank Securities. KIOS is venture backed by Khosla Ventures, Artis Capital management, Alberta Investment Management Corporation, and others. The firm is pre-revenue, and had a net loss of $45.9M in 2010.