The offering raised nearly $390 million.

The offering and price range was increased from an initial 7.8 million shares at between $37 and $41 per share.

The company sold 6.4 million shares and the rest 2.6 shares were sold by certain selling stockholders.

The underwriters have an option to buy up to 1.0 million additional shares from the company and 323,050 shares from the selling stockholders at the initial public offering price.

Aventine Renewable Energy is a leading producer and marketer of ethanol in the United States.

In the three months ended March 31, the company reported net income of $12.2 million on revenue of $314 million, compared with net income of $6.6 million on revenue of $197 million a year ago.

Banc of America Securities, Friedman, Billings, Ramsey & Co., and Goldman, Sachs & Co. acted as lead managers for the offering.

Aventine marks the second of three ethanol makers on deck this summer after Verasun Energy (VSE: chart) priced at $23 a share on mid June.

Shares of Aventine fell 3.7% on their market debut on Thursday.

The company’s shares closed at $38.90 on Friday, down 10% from the initial offering price.

POSTPONED DEALS:

Gordon Biersch (BIER: chart) delayed its IPO of 4.45 million shares at $10 - $12 each. Underwriters reduced the price range on the IPO from $11 - $13 earlier this month.

Wintegra (WNTG: chart) also postponed its IPO. The company sited market conditions. Wintegra had planned to offer 4.89 million shares within $12 - $14 each. Earlier, the tech company had cut about 110,000 shares off the deal from its earlier size of 5 million shares.