Codexis, Inc. (Nasdaq: CDXS) announced the commencement of an underwritten public offering of shares of its common stock, according to a press release from the Redwood City, California-based company.

All shares to be sold in the offering will be offered by Codexis. The company also intends to grant underwriters a 30-day option to purchase up to an additional 15% of the shares offered, on the same terms. The offering is subject to market and other conditions, with no assurance provided as to whether or when it may be completed, or the size or terms of the offering.

Codexis stated it intends to use net proceeds from the offering to fund working capital and general corporate purposes, including research, development, and business activities.

Piper Sandler and Cantor are acting as joint bookrunning managers for the offering. Craig-Hallum is acting as co-manager.

A registration statement related to the securities was filed with the U.S. Securities and Exchange Commission and was declared effective on May 14, 2024.