Calyxt, a developer of gene-edited crop traits spun out of Cellectis, announced terms for its IPO on Monday.
The New Brighton, MN-based company plans to raise $100 million by offering 6.06 million shares at a price range of $15 to $18. Parent Cellectis may purchase $20 million worth of shares in the offering (20%). At the midpoint of the proposed range, Calyxt would command a fully diluted market value of $477 million.
Calyxt was formed in 2010 and the pre-revenue company plans to list on the Nasdaq under the symbol CLXT. Citi, Jefferies and Wells Fargo are the joint bookrunners on the deal. It is expected to price during the week of July 17, 2017.
