Intrexon Prices IPO At $16/share, At Top End Of Range

(RTTNews) - Biotechnology company Intrexon Corp. announced the pricing of initial public offering of 10 million shares of common stock at a public offering price of $16.00 per share, before underwriting discounts and offering expenses, at high end of the estimated range.

In the amended filing with the SEC, the company had expected to price the initial public offering of 8.33 million common shares between $14.00 and $16.00 per share.

The Germantown, Maryland based company to begin trading on the New York Stock Exchange on August 8, 2013, under the symbol "XON."

Intrexon has granted the underwriters a 30-day option to purchase up to 1.5 million additional shares of common stock from Intrexon

The company said in a preliminary prospectus that it plans to use the proceeds to fund continued investment in research and development platforms and its business development efforts.

Intrexon is a leader in the field of synthetic biology, an emerging and rapidly evolving discipline that applies engineering principles to biological systems

Intrexon, which was founded in 1998, is now controlled by Randal Kirk, who has been the chief executive of the company since 2005.

J.P. Morgan and Barclays are the joint bookrunners on the deal.