Elevance Renewable withdraws initial public offering

Elevance Renewable withdraws initial public offering

6:57 AM, 5th September 2012
Elevance Renewable withdraws initial public offering

WOODRIDGE, US: Elevance Renewable Sciences Inc has withdrawn the registration statement filed with the US Securities and Exchange Commission on 21 September 2011 related to a proposed initial public offering of shares of its common stock. The withdrawal is based on the addition of its recently announced Series E financing and current equity market conditions.

On 10 July 2012 Elevance announced that it raised $104 million in its Series E financing round. Lacustrine Limited via Genting Genomics Limited, wholly owned by Genting Berhad, led the round. Total Energy Ventures International, based in Paris, France also participated in the financing.

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