MBI filed a registration statement for proposed follow-on offering

The US biopesticide company Marrone Bio Innovations, Inc. (MBI) (Nasdaq:MBII) recently announced that it has filed a registration statement with the Securities and Exchange Commission for a public offering of up to $35 million of common stock to be sold by MBI and selling stockholders, including shares MBI may sell to the underwriters under a 30-day option to purchase additional shares.

MBI currently intends to use the net proceeds it receives from the proposed offering for working capital required to accelerate the commercial adoption of its existing products, to accelerate the development of its product pipeline and to expand its network of strategic relationships, for capital expenditures, including to purchase equipment to facilitate its research and development efforts and to accelerate completion of the manufacturing facility it acquired in July 2012, and for general corporate purposes, such as acquiring complementary businesses, products or technologies.

The offering is subject to market and other conditions, including the effectiveness of the registration statement under the Securities Act of 1933.