Codexis Prices Public Offering Of 16.67 Mln Shares At $1.50/Shr; Stock Drops 19%
(RTTNews) – Codexis, Inc. (CDXS), a provider of enzymatic solutions, announced the pricing of its public offering of 16.67 million shares at a price of $1.50 per share.
The company expects net proceeds of approximately $23.1 million, which it intends to use for working capital and other general corporate purposes, including research, development, and business activities.
The offering is expected to close on or about July 27, 2026, subject to customary closing conditions.
Codexis has also granted the underwriters a 30-days option to purchase up to an additional 2.5 million shares of common stock at the offering price, less underwriting discounts and commissions.
Piper Sandler and Cantor are acting as joint book-running manager, while Craig-Hallum is acting as co-manager for the offering.
Codexis shares closed Thursday at $1.99, down 3.40%. In the overnight market, shares are trading down 19.10% at $1.61.
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