IPO Profile: Pfenex Inc

Company Details

Location: 10790 Roselle Street, San Diego, California 92121

Phone: (858) 352-4400

Website: http://www.pfenex.com

Business Description: Pfnex Inc. operates as a protein production company

Investment & Return Details

VC backers: Dow Chemical Co, Signet Healthcare Partners

Investment Dates: 12/07/2009

Total Funding To Date (USD Mil): $24.00

Value of VCs’ shares at IPO price (USD Mil): $138.00

Total return to VCs at IPO price: 5.75x

Shares Beneficially owned by VCs at Offering:

• Dow Chemical Co: 14,000,000
• Signet Healthcare Partners: 9,000,000
• Total: 23,000,000

Value of VC shares at IPO price (USD Mil):

• Dow Chemical Co: $84.00
• Signet Healthcare Partners: $54.00
• Total: $138.00

IPO Details

Primary Exchange: NYSE MKT

Ticker: PFNX

Time to Exit (Years): 4.6

Date Filed: 06/05/2014

Date Issued: 07/23/2014

Offer Price (USD): $6.00

First Day Closing Price (USD): $5.30

No. of Shares Offered + Overallot Sold All Mkts: 8,333,333

Proceeds Amt + Overallot Sold All Markets (USD Mil): $50.00

Post Offer Value (USD Mil): $115.41

Issuer’s Legal Advisor: Wilson Sonsini Goodrich & Rosati

Book Runner: JMP Securities LLC, William Blair & Co

Co-Managers: Mizuho Securities USA Inc

Source: Thomson Reuters and company prospectus