Codexis has priced a public offering of 16.67 million shares at $1.50 per share, sending its stock down 19% in overnight trading. The enzymatic solutions provider expects net proceeds of approximately $23.1 million, which will be used for working capital and general corporate purposes including research and development. Underwriters have a 30-day option to purchase up to an additional 2.5 million shares at the offering price less discounts and commissions. Piper Sandler and Cantor are joint book-running managers, with Craig-Hallum as co-manager. The offering is expected to close on or about July 27, 2026.
Codexis IncCompany prices a dilutive public offering of 16.67 million shares at $1.50, causing stock to drop 19%.