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Evogene Raises Nearly $74M in US IPO

NEW YORK (GenomeWeb News) – Plant genomics firm Evogene has gone public in the US through the offering of 5 million shares of common stock at an offering price of $14.75 per share, bringing in gross proceeds of $73.75 million.

The firm has granted the underwriters a 30-day option to purchase up to 750,000 additional ordinary shares at the same offering price per share.

The Israel-based company, which also trades on the Tel Aviv Stock Exchange, filed to go public in the US in September, saying at the time that it intended to offer $60 million of its shares.

Evogene said that agricultural products giant Monsanto has agreed to purchase 813,560 ordinary shares as part of the offering for approximately US$12 million.

Evogene's shares are expected to begin trading today on the New York Stock Exchange under the symbol "EVGN."

Credit Suisse Securities and Deutsche Bank Securities acted as joint book-running managers on the planned offering, while Oppenheimer and Piper Jaffray were co-managers.

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