Zymergen’s upsized IPO prices at top of expected range, valuing ‘biofacturing’ company at $3 billion

Zymergen Inc. is set to go public Thursday, after the biofacturing company’s upsized initial public offering priced at $31 a share, at the top of the expected range. The company sold 16.13 million shares in the IPO, up from previous expectations of 13.6 million shares, to raise $500.0 million. The IPO pricing values the company at about $2.96 billion. The stock is expected to begin trading Thursday on the Nasdaq under the ticker symbol “ZY.” The company is going public at a time that the Renaissance IPO ETF has dropped 11.5% over the past three months while the S&P 500 has gained 8.6%.

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