The nutritional supplements company plans to issue 4.4 million shares at a price range of $16 to $18. “Globes” was the first to report on the company’s plans to go public earlier this year.
Enzymotec Ltd. (“Enzymotec“) today announced that it has filed a registration statement on Form F-1 with the Securities and Exchange Commission for a proposed initial public offering of shares of its ordinary shares. The company will list on the NASDAQ under the symbol ENZY.
The nutritional supplements company will offer 4.4 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Enzymotec will have a fully diluted market value of $391 million, and will raise $75 million.
The company will give the underwriters an over-allotment option on 661, 800 additional shares, which, if fully exercised, will bring in a further $10.6-11.9 million. At the end of the second quarter, Enzymotec had $9.7 million cash.
Bank of America Merrill Lynch and Jefferies are the joint bookrunners on the deal.
Enzymotec was founded in 1998 at Naiot Venture Accelerator in Yokne’am, on the basis of research by Dr. Sobhi Basheer. It is now based in Migdal Ha’Emek. Its CEO is Ariel Katz.
In the first half of 2013, the company had sales of $28.7 million, 84% more than in the corresponding period in 2012, and posted a net profit of $4.7 million, which compares with $845, 000 for the corresponding period, and $4.8 million for 2012 as a whole.
Enzymotec is owned by Galam Group Ltd. (Kibbutz Ma’anit), XT Investments Ltd.
, GlenRock Israel, Millennium Material Technologies Fund, and Mexico’s Arancia Industrial SA de CV.
Enzymotec has developed a proprietary method for processing fatty acids (lipids). In the US, the company sells nutritional supplements, backed by clinical trials.
Enzymotec currently has 149 employees: 117 in Israel, 30 in China, and 2 in the US.
Read More About Enzimotec and Dr. Sobhi Basheer :
- Dr. Sobhi Basheer Is Planning A Nasdaq IPO : Israeli Arabs Can Make More Than Hummus
- Enzymotec Publishes Nasdaq IPO Prospectus