Verenium readies for $150 million capital raise

Verenium filed a $150 million shelf offer with the SEC in support of a new capital raise. The company says that it plans to sell 3 million shares at $50 to raise $150 million in new equity, although it did not announce a date.

Verenium is a research and development company working on cellulosic ethanol technologies, formed last year by a merger of Celunol and Diversa. The company recorded $49 million in revenues in 2006.

In September, NASDAQ  added Verenium to the Nasdaq Clean Edge U.S. Index (CLEN) and the NASDAQ Clean Edge U.S. Liquid Series Index (CELS).

Shares of Verenium were down 16.7 percent yesterday to close at $3.83.

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