DLA Piper advises underwriters of MaxCyte’s upsized US IPO

DLA Piper represented Cowen and Company, LLC, Stifel, Nicolaus & Company, Incorporated and William Blair & Company, L.L.C., as underwriters in the initial US public offering of 13,500,000 shares of common stock of MaxCyte, Inc. (Nasdaq: MXCT) (LSE: MXCT, MXCN), a leading provider of cell-engineering platform technologies, at an initial offering price of US$13.00 per share.

MaxCyte has granted the underwriters a 30-day option to purchase up to 2,025,000 additional shares of common stock at the initial offering price per share of common stock, less underwriting discounts and commissions.

The gross proceeds of the offering, before deducting underwriting discounts and commissions and offering expenses payable by MaxCyte, are expected to be approximately US$175.5 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about August 3, 2021, subject to the satisfaction of customary closing conditions.

“We were pleased to bring together our extensive capital markets capabilities both in the US and the UK, as well as a deep understanding of the life sciences sector, to facilitate this IPO,” said Michael D. Maline, the DLA Piper partner who led the deal team.

In addition to Maline (New York), the DLA Piper deal team representing the underwriters included partners Patrick O’Malley (San Diego), Martin Penn (London), Rebecca McKnight (Austin), William Bartow (Philadelphia) and Lehr Christine C (Raleigh), and associates Kathryn Fortin (San Diego) and Zamzama Azizi (San Diego).

DLA Piper’s global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.