2-22-12 3:52 AM EST
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TEL AVIV (MarketWatch) -- Ceres Inc., CERE the Thousand Oaks, Calif., biotech firm, priced its initial public offering of five million common shares at $13. Ceres specializes in seeds for crops that are grown to enable production of energy sources, like renewable transport fuels and electricity. These crops, the company said in a Wednesday statement, include forms of sorghum as well as switchgrass and miscanthus. The underwriters have an option on an additional 750,000 shares. Goldman Sachs and Barclays Capital are running the books for the deal. The shares are set to start trading on Wednesday.
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