Ceres Cuts IPO Pricing Range

Thousand Oaks-based Ceres, the developer of seeds for producing renewable bioenergy feedstocks, has cut its estimated IPO pricing range, ahead of its anticipated IPO this week. In an updated S-1, Ceres now estimates that it will price at between $16.00 and $17.00 per share. Ceres had earlier estimated pricing at between $21.00 and $23.00 per share. Ceres uses agricultural biotechnology to develop specific strains of seeds, which are optimized for biofuel and biochemical yields. The company is venture backed by Artal Luxembourg, Warburg Pincus, Ambergate Trust, Oxford Bioscience, GIMV, Oppenheimer Growth, Quantum Industrial Partners, and Monsanto.