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Cellular Dynamics International Announces Closing of Initial Public Offering

Published: Wednesday, July 31, 2013
Last Updated: Wednesday, July 31, 2013
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Company announced the closing of its previously announced initial public offering of 3,846,000 shares of common stock at a price to the public of $12.00 per share.

The underwriters have a 30-day option to purchase up to an additional 576,900 shares of common stock from the Company.

The shares began trading on The Nasdaq Global Market on July 25, 2013, under the ticker symbol "ICEL."

The offering raised proceeds to the Company of approximately $43 million, after deducting underwriting discounts and commissions. The Company intends to use the net proceeds that it received in the offering for research and product development activities; sales and marketing activities, including expansion of its sales force to support the ongoing commercialization of its products; property, plant and equipment, including the build-out of its laboratory in California, and intellectual property; and for working capital and other general corporate purposes.

J.P. Morgan Securities LLC acted as sole book-running manager for the offering, and Cowen and Company, LLC and Leerink Swann LLC acted as co-managers.

A Registration Statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on July 24, 2013. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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