Zymergen Pays $30 Million to Settle SEC’s Misleading IPO Charges

Zymergen agreed to pay a $30 million penalty to resolve SEC’s charges of misleading IPO investors over the biotechnology company’s market potential and sales prospects.

• Zymergen raised about $530 million through its IPO in April 2021 and filed for bankruptcy in 2023
• The firm claimed it had a $1 billion electronics display market opportunity for Hyaline, its only commercially available product, but the estimate was based on flawed and unreasonable assumptions, according to SEC’s order

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Hari Govind in San Francisco at hgovind@bloomberg.net

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