Benzinga | Jul 30, 2021 01:30PM EDT

London-Listed MaxCyte Makes NASDAQ Debut Today

* MaxCyte Inc (NASDAQ:MXCT) is already trading on London's AIM, but now, it debuted on NASDAQ after pricing a $176 million IPO at $13 apiece, on the higher end of an $11.50 to $13.50 range.

* The Company offered 13.5 million shares during the IPO.

* MaxCyte's technology uses electroporation, which applies an electric field to temporarily increase the permeability of the cell membrane and allow intracellular delivery of molecules, such as genetic material and proteins.

* The Company tagged $20 million - $30 million for R&D activities and another $20 million - $30 million to expand its manufacturing capabilities and invest in automation, according to the S-1/A.

* Price Action: MXCT opened at $16.99 and traded at $15.64 in the afternoon session.