Friday, June 10, 2011

KIOR Sets IPO Pricing Range

Pasadena, Texas-based KIOR, a developer of renewable fuels technology to convert biomass into oil, has set its initial public offering range, saying in a filing that it expects its IPO to be between $19.00 and $21.00 a share. KIOR is selling 10,000,000 shares of its common stock on the Nasdaq Global Market as KIOR. The IPO is expected to raise as much as $241.5M for the company. KIOR is venture backed by Khosla Ventures, Artis Capital Management, Alberta Investment Management Corporation, and others. The IPO is being underwritten by Credit Suisse, UBS Investment Bank, Goldman Sachs & Co., Piper Jaffray, Citi, and Deutsche Bank Securities.