NEW YORK (GenomeWeb News) – Cellular Dynamics International has priced its initial public offering at $12 per share, the stem cell technology firm announced late Wednesday.
Its shares are anticipated to trade on the Nasdaq under ticker symbol "ICEL." CDI is offering about 3.8 million shares in its IPO. Additionally it granted its underwriters a 30-day option to purchase an additional 576,900 shares.
JP Morgan Securities is the sole book-running manager on the offering. Cowen &Co and Leerking Swann are co-managers.
Proceeds will go toward R&D, sales and marketing, expansion of its sales force for commercialization of its products, building out of its laboratory, and working capital general corporate purposes.
CDI filed for its IPO last month.