Cytek Biosciences Announces Closing of Its Initial Public Offering

Rhea-AI Summary

Cytek Biosciences announced the closing of its initial public offering, raising $200 million by selling 14,564,635 shares at $17.00 per share. The offering included 11,764,706 shares from Cytek and 2,799,929 shares from selling stockholders. Cytek did not receive proceeds from the latter. Additionally, underwriters were granted a 30-day option to purchase 2,184,695 shares to cover over-allotments. Shares are traded on Nasdaq under the symbol CTKB.

FREMONT, Calif., July 27, 2021 (GLOBE NEWSWIRE) -- Cytek Biosciences, Inc. (“Cytek Biosciences” or “Cytek”) (Nasdaq: CTKB), a leading cell analysis solutions company, announced today the closing of its initial public offering of an aggregate of 14,564,635 shares of its common stock at a price to the public of $17.00 per share. The gross proceeds to Cytek from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, were $200 million. The offering consisted of 11,764,706 shares issued and sold by Cytek, and 2,799,929 shares sold by the selling stockholders named in the prospectus. Cytek did not receive any proceeds from the sale of shares by the selling stockholders. In addition, Cytek has granted the underwriters a 30-day option to purchase up to an additional 2,184,695 shares of common stock solely to cover over-allotments, if any, at the initial public offering price, less underwriting discounts and commissions. Cytek’s shares of common stock are listed for trading on The Nasdaq Global Select Market under the ticker symbol “CTKB”.

Morgan Stanley, Goldman Sachs & Co. LLC, Piper Sandler & Co. and Cowen acted as joint book running managers for the offering.

The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, by telephone at (866) 718-1649 or by email at prospectus@morganstanley.com; Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com; Piper Sandler & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924 or by email at prospectus@psc.com; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (833) 297-2926 or by email at PostSaleManualRequests@broadridge.com.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”) on July 22, 2021. A copy of the registration statement may be accessed through the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.

About Cytek Biosciences, Inc.

Cytek Biosciences is a leading cell analysis solutions company advancing the next generation of cell analysis tools by delivering high-resolution, high-content and high-sensitivity cell analysis utilizing its patented Full Spectrum Profiling™ (FSP™) technology. Cytek’s novel approach harnesses the power of information within the entire spectrum of a fluorescent signal to achieve a higher level of multiplexing with exquisite sensitivity. Cytek’s FSP platform includes its core instruments, the Aurora and Northern Lights systems, its cell sorter, the Aurora CS, and reagents, software and services to provide a comprehensive and integrated suite of solutions for its customers. Cytek is headquartered in Fremont, California with offices and distribution channels across the globe.

Other than Cytek’s Northern Lights CLC system, which is available for clinical use in China and the European Union, Cytek’s products are for research use only – not for use in diagnostic procedures or for clinical purposes.

Cytek, Full Spectrum Profiling, FSP and Northern Lights are trademarks or registered trademarks of Cytek Biosciences, Inc.

Media Contact:
Stephanie Olsen
Lages & Associates
(949) 453-8080
stephanie@lages.com

Investor Relations Contact:
Carrie Mendivil/Mary Kate McDonough
Gilmartin Group LLC
(518) 727-6380
investors@cytekbio.com

FAQ

What was the total amount raised in Cytek Biosciences' IPO?

Cytek Biosciences raised a total of $200 million through its initial public offering.

How many shares were sold in Cytek's IPO?

A total of 14,564,635 shares were sold in Cytek's initial public offering.

What is the stock symbol for Cytek Biosciences?

Cytek Biosciences is traded under the stock symbol CTKB on Nasdaq.

Who were the underwriters for Cytek's IPO?

The underwriters included Morgan Stanley, Goldman Sachs & Co. LLC, Piper Sandler & Co., and Cowen.

What is the purpose of the funds raised from Cytek's IPO?

The funds raised will likely be used to support business growth initiatives and expand product offerings.