Elevance Renewable Sciences Withdraws Initial Public Offering
August 31, 2012 (Woodbridge, IL)
Elevance Renewable Sciences, Inc. (Elevance), a producer of high-performance renewable specialty chemicals, announced today that, based on the addition of its recently announced Series E financing and current equity market conditions, it has withdrawn the registration statement filed with the U.S. Securities and Exchange Commission on September 21, 2011 related to a proposed initial public offering of shares of its common stock.
On July 10, 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, based in Kuala Lumpur, Malaysia led the round. Total Energy Ventures International, based in Paris, France also participated in the financing.
About Elevance Renewable Sciences
Based in Woodridge, Ill., Elevance Renewable Sciences, Inc. creates valued specialty chemicals from natural oils. Using a Nobel Prize-winning technology called olefin metathesis, the company creates high performance ingredients for use in personal care products, detergents, fuels, lubricants and other specialty chemicals markets. To learn more about Elevance, visit www.elevance.com.