Zymergen (ZY) IPO Opens 30% Higher

April 22, 2021 12:45 PM EDT

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Today's IPO for biofacturing company Zymergen Inc. (NASDAQ: ZY) opened for trading at $40.30 after pricing 16,130,000 shares of its common stock at a public offering price of $31.00 per share.

In addition, Zymergen has granted the underwriters a 30-day option to purchase up to an additional 2,419,500 shares of its common stock at the initial public offering price.

J.P. Morgan and Goldman Sachs & Co. LLC are acting as lead book-running managers for the offering. BofA Securities, Cowen and UBS Investment Bank are acting as book-running managers. Lazard is acting as co-manager.

Zymergen is a biofacturing company using biology to reimagine the world. Zymergen partners with nature to design, develop and manufacture bio-based breakthrough products that deliver value to customers in a broad range of industries. A unique combination of biology, chemistry, software and automation enables the company to design and create new materials.

The company's revolutionary optical film, Hyaline, for electronics, was taken from concept to launch in 4 years. In addition, it has one of the largest metagenomic databases, which 200 million + sequenced genes in its library.

Zymergen estimates a total disruptable market opportunity of $1.2 trillion across 20 separate industries based on our bottom-up, industry-by-industry, application-by-application analysis.

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