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AIM-listed cell engineering platform MaxCyte sets terms for $150 million US IPO

July 26, 2021

MaxCyte, which provides cell engineering devices and services, announced terms for its IPO on Monday.

The Gaithersburg, MD-based company plans to raise $150 million by offering 12 million shares at a price range of $11.50 to $13.50. The company is currently listed on London's AIM market under the symbols "MXCT" and "MXCN". At the midpoint of the proposed range, MaxCyte would command a fully diluted market value of $1.3 billion.

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 was founded in 1998 and booked $27 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol MXCT. Cowen, Stifel, and William Blair are the joint bookrunners on the deal. It is expected to price during the week of July 26, 2021.