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Cellular Dynamics International Sets Terms for $50 Million IPO


7/10/2013 9:48:28 AM

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Cellular Dynamics International Announces Launch of Initial Public Offering

MADISON, Wis., July 10, 2013 /PRNewswire/ -- Cellular Dynamics International, Inc., a developer and manufacturer of fully functioning human cells in industrial quantities to precise specifications, today announced that it has commenced an initial public offering of 3,846,000 shares of common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission ("SEC"). In addition, the underwriters will have a 30-day option to purchase up to an additional 576,900 shares of common stock from the Company. The initial public offering price is currently expected to be between $12.00 and $14.00 per share of common stock.

The Company intends to use the net proceeds that it receives 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 is acting as sole book-running manager for the offering, and Cowen and Company, LLC and Leerink Swann LLC are acting as co-managers.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

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.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering, and the final prospectus when available, may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; telephone (866) 803-9204.

Forward-looking Statements

This press release includes "forward-looking statements," including with respect to the proposed initial public offering and the Company's intended use of proceeds. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. The forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

MEDIA CONTACTS:
Joleen Rau
Senior Director, Marketing & Communications
Cellular Dynamics International, Inc.
608 310-5142
jrau@cellulardynamics.com

SOURCE Cellular Dynamics International, Inc.



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