MaxCyte Inc (LON:MXCT), the cell-engineering and life sciences company, has raised £40mln by placing shares at 700p each – a premium to last night’s closing price of 670p.
Proceeds from the share subscription will be used to strengthen MaxCyte's balance sheet to enable the company to accelerate projects in its development pipeline.
The newly issued shares represent around 6.9% of the company’s enlarged share capital. Subscribers to the share issue featured a mixture of new and existing investors, including D1 Capital Partners, T. Rowe Price, ArrowMark Partners, Baron Capital Group and First Light Asset Management, alongside existing investors Casdin Capital and Sofinnova Partners.
“The financing will strengthen the company's balance sheet as we continue to focus on accelerating revenue growth in 2021 and beyond, and marks a further important step towards our goal to dual-list on Nasdaq in 2021,” said Doug Doerfler, the president and chief executive officer of MaxCyte in a statement.