DLA Piper advises underwriters of MaxCyte's upsized US IPO
DLA Piper acted as legal counsel for underwriters Cowen, Stifel, and William Blair in MaxCyte's IPO of 13,500,000 shares at $13.00 each, potentially raising $175.5 million. The underwriters have a 30-day option to purchase an additional 2,025,000 shares. Closing is anticipated around August 3, 2021, pending customary conditions. DLA Piper's expertise in capital markets and life sciences played a significant role in this transaction.
- MaxCyte's IPO raised approximately $175.5 million before expenses.
- Underwriters have an option to purchase an additional 2,025,000 shares, potentially increasing capital raised.
- None.
NEW YORK, July 30, 2021 /PRNewswire/ -- DLA Piper represented Cowen and Company, LLC, Stifel, Nicolaus & Company, Incorporated and William Blair & Company, L.L.C., as underwriters in the initial US public offering of 13,500,000 shares of common stock of MaxCyte, Inc. (Nasdaq: MXCT) (LSE: MXCT, MXCN), a leading provider of cell-engineering platform technologies, at an initial offering price of US
MaxCyte has granted the underwriters a 30-day option to purchase up to 2,025,000 additional shares of common stock at the initial offering price per share of common stock, less underwriting discounts and commissions.
The gross proceeds of the offering, before deducting underwriting discounts and commissions and offering expenses payable by MaxCyte, are expected to be approximately US
"We were pleased to bring together our extensive capital markets capabilities both in the US and the UK, as well as a deep understanding of the life sciences sector, to facilitate this IPO," said Michael D. Maline, the DLA Piper partner who led the deal team.
In addition to Maline (New York), the DLA Piper deal team representing the underwriters included partners Patrick O'Malley (San Diego), Martin Penn (London), Rebecca McKnight (Austin), William Bartow (Philadelphia) and Christine Lehr (Raleigh), and associates Kathryn Fortin (San Diego) and Zamzama Azizi (San Diego).
DLA Piper's global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.
DLA Piper advises on all aspects of the life sciences sector, combining subject matter experience with considerable knowledge of the scientific, medical, regulatory, commercial and enforcement environments facing biopharmaceutical, medical device, research and diagnostics clients. Recognizing that clients' needs vary, the firm rapidly organizes and customizes client service teams, whether for a large pharmaceutical company, a mid-sized medical device client or a development-stage biotech company.
About DLA Piper
DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising. dlapiper.com
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