26 Jul 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Cellular Dynamics International, a developer and manufacturer of fully functioning human cells in industrial quantities to precise specifications, today announced the pricing of its initial public offering of 3,846,000 shares of common stock at a price to the public of $12.00 per share.
The shares are expected to begin trading on The Nasdaq Global Market on July 25, 2013, under the symbol "ICEL." In addition, the underwriters have a 30-day option to purchase up to an additional 576,900 shares of common stock from the Company.
The Company intends to use the net proceeds that it receives in the offering for research and product development activities; sales and marketing activities, including expansion of its sales force to support the ongoing commercialization of its products; property, plant and equipment, including the build-out of its laboratory in California, and intellectual property; and for working capital and other general corporate purposes.
J.P. Morgan Securities LLC is acting as sole book-running manager for the offering, and Cowen and Company, LLC and Leerink Swann LLC are acting as co-managers.
A Registration Statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission ("SEC") on July 24, 2013. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.