Cellular Dynamics International Announces Closing of Initial Public Offering
MADISON, Wis., July 30, 2013 (GLOBE NEWSWIRE) — Cellular Dynamics International, Inc. (Nasdaq:ICEL), a developer and manufacturer of fully functioning human cells in industrial quantities to precise specifications, today announced the closing of its previously announced initial public offering of 3,846,000 shares of common stock at a price to the public of $12.00 per share. The underwriters have a 30-day option to purchase up to an additional 576,900 shares of common stock from the Company.
The shares began trading on The NASDAQ Global Market on July 25, 2013, under the ticker symbol “ICEL.”
The offering raised proceeds to the Company of approximately $43 million, after deducting underwriting discounts and commissions. The Company intends to use the net proceeds that it received in the offering for research and product development activities; sales and marketing activities, including expansion of its sales force to support the ongoing commercialization of its products; property, plant and equipment, including the build-out of its laboratory in California, and intellectual property; and for working capital and other general corporate purposes.
J.P. Morgan Securities LLC acted as sole book-running manager for the offering, and Cowen and Company, LLC and Leerink Swann LLC acted as co-managers.
A Registration Statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on July 24, 2013. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.
The offering was made solely by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; telephone (866) 803-9204.
This press release includes “forward-looking statements,” including with respect to the Company’s intended use of proceeds from the initial public offering. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. The forward-looking information presented in this press release is not a guarantee of future events, and actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
CONTACT: MEDIA CONTACTS:
Joleen Rau Senior Director, Marketing & Communications
Cellular Dynamics International, Inc.
Gitanjali Jain Ogawa
The Trout Group, LLC