MaxCyte Inc - Maryland-based cell and gene therapies firm - Announces GBP40 million subscription via private placement of 5.7 million shares at 700 pence each, a 4.5% premium to the company's mid-market Tuesday closing price. Subscribers include new investors D1 Capital Partners, T Rowe Price, ArrowMark Partners, Baron Capital Group and First Light Asset Management plus existing investors Casdin Capital and Sofinnova Partners. Says subscription provides "strategic capitalisation round" introducing crossover investors as MaxCyte progresses its 2021 Nasdaq dual listing, which is still on track.
"Proceeds from the subscription will be used to strengthen MaxCyte's balance sheet to enable the company to support the burgeoning field of next-generation cell therapeutic development via its best-in-class cell engineering approaches," says MaxCyte.
Stifel Nicolaus Europe Ltd, MaxCyte's newly appointed joint corporate broker - alongside Panmure Gordon and Numis - acts as sole private placement agent for the subscription.
Current stock price: 670.00 pence
Year-to-date change: up 27%
By Anna Farley; annafarley@alliancenews.com
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MaxCyte (MXCT)