MaxCyte, which provides cell engineering devices and services, raised $176 million by offering 13.5 million shares at $13, within the range of $11.50 to $13.50. The company offered 1.5 million more shares than anticipated.
MaxCyte's Flow Electroporation technology facilitates the complex engineering of a variety of cells. It uses electroporation, which is the process of applying an electric field to temporarily increase the permeability of the cell membrane, allowing intracellular delivery of molecules, such as genetic material and proteins. The company's flagship product, the ExPERT platform, can be used across the continuum of the rapidly-expanding cell therapy sector. MaxCyte is currently listed on London's AIM market under the symbols "MXCT" and "MXCN".
MaxCyte plans to list on the Nasdaq under the symbol MXCT. Cowen, Stifel, and William Blair acted as joint bookrunners on the deal.
