Goodwin Procter recently represented the underwriters in Intrexon Corporation’s initial public offering of approximately 11.5 million shares of its common stock, which closed on August 13, 2013. The Intrexon IPO is considered among the largest biotech IPOs in history.
Trading on The New York Stock Exchange under the ticker symbol “XON,” shares priced at $16 per share. On the first day of trading, the shares closed at $24.73, up 55% from the IPO price. The deal valuation of $1.5 billion makes Intrexon the biggest biotech IPO since 2000 in terms of post-offer market cap. Excluding the “re-IPO” of Genentech by Roche in 1999 (after the first time they acquired Genentech), Intrexon ranks as the biggest biotech IPO of all time by this metric.
J.P. Morgan and Barclays acted as joint book-running managers for the offering. Griffin Securities and Mizuho Securities acted as co-managers.
Intrexon Corporation is a biotechnology company focused on collaborating with companies in Health, Food, Energy, and the Environment to create biologically based products that improve the quality of life and health of the planet.
The Goodwin deal team for Intrexon’s IPO was led by partners Stuart Cable, Mitchell Bloom and Michael Bison, and included associates Daniel Lang and William Collins; partner Duncan Greenhalgh, associate Crystal Komm; partner Kelsey Lemaster (tax); and partners Peter LaVigne and Brynn Peltz (securities).
Additional information can be found in the company’s press release announcing the closing of the IPO.