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Cellectis Plant Genomics Subsidiary Calyxt Prices $56M IPO

NEW YORK (GenomeWeb) – Plant genome engineering firm Calyxt announced today that it has priced its planned initial public offering of 7 million shares at $8 per share, for gross proceeds of $56 million.

Calyxt had previously said that it intended to float 6.06 million shares at between $15 and $18 apiece, which would have raised $90.9 million to $109.1 million.

Citigroup, Jefferies, and Wells Fargo Securities are acting as joint book-running managers for the proposed offering. BMO Capital Markets and Ladenburg Thalmann are acting as co-managers. The underwriters have been granted an overallotment option to buy an additional 1.05 million shares at the offering price, minus an underwriting discount.

Cellectis currently owns 100 percent of Calyxt. It intends to buy 2.5 million shares in the offering, which will give it an 83.1 percent stake in the newly public firm. If the underwriters exercise their overallotment option, Cellectis will own a 79.9 percent in Calyxt.

Calyxt expects to trade on the Nasdaq under the ticker symbol CLXT.

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