Metabolix [MBLX] a Full Disclosure Thread Message Board

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Non-Tech : Metabolix [MBLX] a Full Disclosure Thread

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From: Sam Citron	11/16/2006 2:23:49 PM
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IPO success for Metabolix 13/11/2006 By John Whitehead Biopolymer pioneer’s shares sell at top end of expected price range. 10 November 2006 – Bioplastics technology pioneer Metabolix has successfully completed an IPO, raising $95.2m from the sale of 6.8m shares, having increased the offering available from the 5.8 million previously indicated. The shares sold for $14, a figure at the top end of expectations which had been in the $12-14 a share range prior to the sale. The New England-based company was set up in 1992 to commercialise breakthrough research carried out at the Massachusetts Institute of Technology which first showed the production of PHA (polyhydroxyalkanoate) in recombinant organisms. The original work has been refined to enable the company to design polymers to the desired compositions. The patented technology produces biologically derived polyesters (PHAs) which aim to “forge a new link between large scale sustainable agricultural production and the present day polymer processing and chemical industries.” Metabolix has partnered with US agricultural products major ADM to handle the production from a 50,000tpa PHA plant, which ADM is building at one of its corn wet mill sites. FD: 800

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