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Cellular Dynamics Nets $43M in IPO

NEW YORK (GenomeWeb News) – Cellular Dynamics International said on Tuesday that it has closed its initial public offering, raising net proceeds of about $43 million.

The Madison, Wis.-based stem cell technologies firm, which went public last week, said it completed its offering of more than 3.8 million shares of common stock at $12.00 per share. The company trades on the Nasdaq under ticker symbol "ICEL".

CDI has offered its underwriters on the offering a 30-day option to purchase up to an additional 576,900 shares of its stock. JP Morgan Securities was the sole book-running agent, while Cowen & Co. and Leerink Swann were co-managers on the offering.

Proceeds from the offering will go toward research and product development work; sales and marketing activities, including expanding the firm's sales force, property, plant, and equipment; working capital; and other general corporate purposes.

CDI filed to go public in June.

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