IPO: Ceres (CERE)

Ceres (CERE), which sells seeds used to produce renewable bioenergy feedstocks, plans to raise $110 million by offering 5,000,000 shares at a price range of $21.00 to $23.00. At the midpoint of the proposed range, Ceres will command a market value of $550.30 million. Ceres, which was founded in 1996, booked $7 million in sales over the last 12 months. The Thousand Oaks, CA-based company plans to list on the NASDAQ under the symbol CERE. Goldman, Sachs & Co. and Barclays Capital are the lead underwriters on the deal.