London-Listed MaxCyte Makes NASDAQ Debut Today

by Vandana Singh, Benzinga Editor

July 30, 2021 1:30 PM | 1 min read | Make a Comment

MaxCyte Inc MXCT is already trading on London’s AIM, but now, it debuted on NASDAQ after pricing a $176 million IPO at $13 apiece, on the higher end of an $11.50 to $13.50 range.
The Company offered 13.5 million shares during the IPO.
MaxCyte’s technology uses electroporation, which applies an electric field to temporarily increase the permeability of the cell membrane and allow intracellular delivery of molecules, such as genetic material and proteins.
The Company tagged $20 million - $30 million for R&D activities and another $20 million - $30 million to expand its manufacturing capabilities and invest in automation, according to the S-1/A.
Price Action: MXCT opened at $16.99 and traded at $15.64 in the afternoon session.

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