Cytek Biosciences Announces Pricing of Its IPO
FREMONT, Calif., July 22, 2021 (GLOBE NEWSWIRE) — Cytek Biosciences, Inc. (“Cytek Biosciences” or “Cytek”) (Nasdaq: CTKB), a leading cell analysis solutions company, announced today the pricing of its initial public offering of an aggregate of 16,749,330 shares of its common stock at a price to the public of $17.00 per share. The gross proceeds to Cytek from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be $200 million. Cytek is offering 11,764,706 shares of common stock and the selling stockholders named in the prospectus are offering 2,799,929 shares of common stock. Cytek will not receive any proceeds from the sale of shares by the selling stockholders. In addition, Cytek has granted the underwriters a 30-day option to purchase up to an additional 2,184,695 shares of common stock solely to cover over-allotments, if any, at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on The Nasdaq Global Select Market under the symbol “CTKB” on July 23, 2021. The offering is expected to close on July 27, 2021, subject to satisfaction of customary closing conditions.
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