Point Financial would like to congratulate CEO, Pam Marrone, the board of directors, and the entire team at Marrone Bio Innovations on their recent successful IPO (NASDAQ: MBII).
Point Financial had the privilege of establishing a lending relationship with Marrone Bio Innovations just over a year ago. The initial transaction produced an investment opportunity exceeding $15,000,000 through the use of a senior secured debt facility.
The company went public on the NASDAQ Global Market August 2nd, with CEO Pam Marrone ringing the opening bell to commemorate the occasion. MBII closed on August 7 having sold 5.5 million shares of common stock at $12 a share.
Marrone Bio Innovations is a leading provider of bio-based pest management and plant health products for the agriculture, turf and ornamental and water treatment markets. Their effective and environmentally responsible biopesticides help customers around the world operate more sustainably while controlling pests, improving plant health, and increasing crop yields.