Full Exercise of Over-Allotment Option

RNS Number : 1620H
MaxCyte, Inc.
02 August 2021





MaxCyte Announces Full Exercise of Over-Allotment Option


This announcement contains inside information


GAITHERSBURG, MD, August 2, 2021 - MaxCyte, Inc., (NASDAQ: MXCT) (LSE: MXCT, MXCN) ("MaxCyte" or the "Company"), a leading provider of cell-engineering platform technologies, today announced that the underwriters of its offering of shares of common stock (the "Offering") have exercised, in full, their over-allotment option.   The underwriters have elected to purchase an additional 2,025,000 shares of common stock at the initial offering price of US$13.00 per share minus underwriting discounts and commissions, raising approximately an additional US$26.3 million in gross proceeds for the Company and bringing the total gross proceeds of the Offering to approximately US$201.8 million before deducting underwriting discounts and commissions and estimated offering expenses payable by MaxCyte.


Following the full exercise of the over-allotment option, the total number of shares of common stock sold by MaxCyte in the Offering has increased to 15,525,000. The closing of the Offering, including the additional 2,025,000 shares of common stock, is expected to occur on August 3, 2021, subject to customary closing conditions.


MaxCyte's common stock began trading on the Nasdaq Global Select Market under the symbol "MXCT" on July 30, 2021. MaxCyte's common stock will continue to be admitted to trading on the AIM market of London Stock Exchange plc ("AIM") under the symbols "MXCT" and "MXCN." Application has been made for the shares of common stock to be issued in the Offering to be admitted to trading on AIM and it is expected that admission will become effective and dealings in the shares of common stock will commence at 8:00 a.m. (BST) on August 4, 2021.


Cowen, Stifel and William Blair acted as joint book-running managers for the Offering and as representatives of the underwriters for the Offering. BTIG and Stephens Inc. acted as co-managers of the Offering.

A registration statement, including a prospectus, relating to these securities has been filed by MaxCyte and was declared effective by the Securities and Exchange Commission on July 29, 2021. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov. The Offering was made only by means of a prospectus. Copies of the final prospectus relating to and describing the terms of the Offering may be obtained from the offices of Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, USA, Attn: Prospectus Department, by telephone at +1 (833) 297-2926 or by email at PostSaleManualRequests@broadridge.com; Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, USA, by telephone at +1 (415) 364-2720 or by email at syndprospectus@stifel.com; or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, USA, by telephone at +1 (800) 621-0687 or by email at prospectus@williamblair.com.

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 law of any such state or jurisdiction.


About MaxCyte


MaxCyte is a leading provider of cell-engineering platform technologies to advance innovative cell-based research, development and potential commercialization of next-generation cell therapies. The company's existing customer base ranges from large biopharmaceutical companies - including 20 of the top 25 pharmaceutical companies based on 2020 global revenue - to hundreds of biotechnology companies and academic translational centers. MaxCyte has granted 13 strategic platform licenses to commercial cell therapy developers that allow for more than 75 clinical programs. Founded in 1998, MaxCyte is headquartered in Gaithersburg, Maryland, US.


MaxCyte Contacts:


MaxCyte Inc.

Doug Doerfler, Chief Executive Officer

Amanda Murphy, Chief Financial Officer



+1 301-944-1660

Nominated Adviser and Joint Corporate Broker

Panmure Gordon

Emma Earl / Freddy Crossley

Corporate Broking

Rupert Dearden


+44 (0)20 7886 2500


Joint Corporate Broker

Numis Securities Limited

James Black / Duncan Monteith / Matthew O'Dowd



+44 (0)20 7260 1000

Joint Corporate Broker

Stifel Nicolaus Europe Limited

Healthcare Investment Banking

Nicholas Moore / Ben Maddison / Samira Essebiyea

Corporate Broking

Nick Adams



+44 (0) 20 7710 7600


Financial PR Adviser

Consilium Strategic Communications

Mary-Jane Elliott

Chris Welsh



+44 (0)203 709 5700



US IR Adviser

Gilmartin Group

David Deuchler, CFA




Forward-Looking Statements


Certain statements made in this press release are forward-looking statements including with respect to the completion and timing of the closing of the Offering and admission of the shares of common stock to trading on AIM. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including if the shares of common stock are not admitted to trading on AIM or admission is delayed or if there are adverse market or economic conditions. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this press release. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

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