Notes from the CEO
A Win for Marrone Bio is a Win for the Region
The recent IPO of Marrone Bio Innovations is a great example of what technology-based companies in this region are capable of. The image of the company’s founder after ringing the opening bell at the NASDAQ stock exchange last week was priceless. What a proud moment for everyone who played a part in getting to that moment.
Doing business at the nexus of agriculture and technology had proven very successful for Marrone Bio Innovations. The Davis-based company, founded in 2006, is a ground-breaking provider of bio-based pest management and plant health products for agricultural and water treatment markets. The company went public on the NASDAQ Global Market on August 2 and closed on August 7 having sold 5.5 million shares of common stock at $12 a share.
We believe that this is a watershed moment for the Capital Region and we congratulate the founder, the company’s employees and all who contributed to this success. What a bright future we are facing if the bio-tech industry continues to bloom here. As regional economic development plans continue, business leaders like Marrone Bio Innovations put Sacramento on the map in terms of attracting new innovative companies to establish themselves and grow.
As a community bank, we celebrate regional wins like these. We look forward to hearing, and helping to write, such success stories in the future.
Congratulations to Pam Marrone, the board of directors, and all of the employees at Marrone Bio Innovations.
James E. Beckwith
President & CEO Five Star Bank