This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Green Energy Winners: Solazyme

NEW YORK (TheStreet) -- Biofuels company Solazyme (SZYM) priced its initial public offering at $18 on Thursday night, higher than the $15 to $17 range set by the green energy company, and in a larger-than-expected share offering.

Solazyme offering just under 11 million shares in the IPO, one million shares more than previously anticipated for the offering.

Before the pricing, the IPO expectations for Solazyme had already doubled from the original goals of the company, which estimated a $100 million offering. The Solazyme deal raised roughly $197 million, above the $184 million which had been expected. Up to 1.6 million Solazyme shares may still be offered in an overallotment period.

The question for investors now turns to whether Solazyme shares are a post-IPO buy. TheStreet recently explored the issue of a post-IPO pop for the green energy stock, versus the long-term investment opportunity and risks in a green energy technology far from large-scale commercial adoption.

Two biofuels company peers that went public in the past year have surged post-IPO: Gevo (GEVO) and Amyris (AMRS).

Solazyme shares were, in fact, up another 3% after its IPO pricing, above $21 per share on Friday.

Solazyme has several high-profile research ventures with the corporate elite in the fuel, chemicals and consumer markets, including backing from Chevron (CVX), Dow Chemical (DOW) and Unilever (UL).

The energy IPO market played out according to plan this week, with the buzz surrounding the Solazyme deal leading to the better-than-expected pricing. Solazyme was the energy IPO of the week. Meanwhile, a controversial Chinese renewable energy company, Nobao Renewable Energy, scrapped its IPO on Friday, after a week during which several media outlets, including TheStreet questioned the company's technology .

U.S. exploration and production company Forest Oil (FST) also this week spun off its Canadian assets, Lone Pine Resources (LPR), but Lone Pine priced below its expected range and traded down in its first day of trading on Thursday.

-- Written by Eric Rosenbaum from New York.

RELATED STORIES:







>To contact the writer of this article, click here: Eric Rosenbaum.

>To follow the writer on Twitter, go to Eric Rosenbaum.

>To submit a news tip, send an email to: tips@thestreet.com.

Stock quotes in this article: SZYM, GEVO, AMRS, CVX, DOW, UL, LPR, FST 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,501.65 -12.72 -0.08%
S&P 500 1,875.39 -4.16 -0.22%
NASDAQ 4,126.9670 -34.4910 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs