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Intrexon Prices IPO, Anticipates Net Proceeds of $113.5M

NEW YORK (GenomeWeb News) – Intrexon today said that it plans to offer more than 8.3 million shares of its stock at between $14 and $16 per share in connection to its proposed initial public offering.

The Germantown, Md.-based synthetic biology firm announced its plans to go public earlier this month, saying it hoped to raise up to $125 million. In its amended Form S-1 filed on Monday, Intrexon said that net proceeds from the offering are anticipated to be $113.5 million, based on a $15 midpoint figure on the offering's share price range.

JP Morgan and Barclays are the joint book-running agents on the offering. Intrexon plans to list on the New York Stock Exchange under ticker symbol "XON".

The company said in its SEC document that its Chairman, President, and CEO Randal Kirk, on behalf of himself and certain of his affiliates, has said he is interested in purchasing up to $30 million in aggregate of Intrexon's common stock in the public offering. At the $15 midpoint price, Kirk and the affiliates would purchase an aggregate of up to about 2 million of the 8.3 million shares in the offering, Intrexon said.

Kirk and his affiliates own about 71 percent of Intrexon as of July 15. Following the offering, he and his affiliates would control about 64 percent of the company's stock, it said.

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