5th Feb 2019 10:22
LONDON (Alliance News) - MaxCyte Inc on Tuesday said it plans to raise at least GBP10 million via a placing of shares in order to accelerate its growth strategy.
The life sciences company will place no less than 5.9 million shares, representing just over 11% of its issued share capital, at 170 pence each. MaxCyte shares were trading down 2.7% at 179.98p each on Tuesday.
MaxCyte will use the funds raised in the placing for further growth and to execute "significant commercial opportunities available", including expanding its cell therapy pipeline, growing the customer base, and advance its solid tumours treatment programme.
The placing will be conducted as an accelerated bookbuild which will close later on Tuesday. Admission of the issued shares to trading on AIM is expected on February 28.
Panmure Gordon UK Ltd is acting as financial adviser, nominated adviser and sole broker to the company.
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