Maxcyte Share Discussion Threads

[acuere] 07/7/2021 18:40

From yesterday’s RNS:-

“The Company intends to provide further details in due course in an announcement to be made via a Regulatory Information Service as to how, subject to completion of the Proposed Offering, Stockholders will be able to move shares of Common Stock between the UK and the US.”

Now if US investors believe that the IPO price will be a lot higher than current share price then loading up on Aim now and switching over to Nasdaq would be a smart move. I think this may explain some of the last couple of days chunky trades.

[assagai] 07/7/2021 12:17

Charlie, just go back a few posts....

[waggle] 07/7/2021 12:13

what have you been sniffing David??!!

[assagai] 07/7/2021 11:48

Once upon a time....in a land far away
There lived a grumpy Pixie...

[donald pond] 07/7/2021 08:57

So that's the final hurdle cleared, US listing here we come.

[davep4] 06/7/2021 20:52

All Resolutions passed save 5.

1. RESOLVED THAT, the pre-emptive rights of Stockholders as set forth in section 3 of Article IV of the Company’s Fourteenth Amended and Restated Certificate of Incorporation (as amended, as applicable) shall be waived in accordance with such section 3 with respect to the allotment and issue of up to 25,000,000 shares of Common Stock in connection with the Proposed Offering.

2. RESOLVED THAT, section 1 of Article IV of the Fourteenth Amended and Restated Certificate of Incorporation be and is hereby amended to delete the authority to issue “two hundred million (200,000,000) all of which” and to insert in lieu thereof the authority to issue “four hundred five million (405,000,000), four hundred million (400,000,000) of which”.

3. RESOLVED THAT, the following sentences be and hereby are added to the end of the first paragraph of section 1 of Article IV of the Fourteenth Amended and Restated Certificate of Incorporation:
“The remaining five million (5,000,000) shares of capital stock shall be a class designated as preferred stock, par value $0.01 per share (the “Preferred Stock”). The Preferred Stock may be issued from time to time in one or more series. The Board of Directors of the Corporation (the “Board”) is hereby expressly authorized to provide for the issue of the shares of the Preferred Stock in one or more series, and to fix the number of shares and to determine or alter for each such series, such voting powers, full or limited, or no voting powers, and such designation, preferences, and relative, participating, optional, or other rights and such qualifications, limitations, or restrictions thereof, as shall be stated and expressed in the resolution or resolutions adopted by the Board providing for the issuance of such shares and as may be permitted by the DGCL. The Board is also expressly authorized to increase or decrease the number of shares of any series subsequent to the issuance of shares of that series, but not below the number of shares of such series then outstanding. In case the number of shares of any series shall be decreased in accordance with the foregoing sentence, the shares constituting such decrease shall resume the status that they had prior to the adoption of the resolution originally fixing the number of shares of such series. The number of authorized shares of Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the voting power of the stock of the Corporation entitled to vote thereon, without a separate vote of the holders of the Preferred Stock, or of any series thereof, unless a vote of any such holders is required pursuant to the terms of any certificate of designation filed with respect to any series of Preferred Stock.”

4. RESOLVED THAT, section 3 of Article IV of the Fourteenth Amended and Restated Certificate of Incorporation be and is hereby deleted.

5. RESOLVED THAT, section 5 of Article VI of the Fourteenth Amended and Restated Certificate of Incorporation be and is hereby deleted and replaced with the following:
“Subject to the rights of any series of Preferred Stock to elect additional directors under specified circumstances, neither the Board nor any individual Director may be removed without cause. Any Director (including persons elected by Directors to fill vacancies in the Board of Directors) may be removed from office with cause, by the affirmative vote of the holders of a majority of the outstanding shares of capital stock then entitled to vote at an election of Directors. At least twenty-eight (28) days prior to any annual or special meeting of stockholders at which it is
15

proposed that any Director be removed from office with cause, written notice of such proposed removal and the alleged grounds thereof shall be sent to the Director whose removal will be considered at the meeting.”

6. RESOLVED THAT, Article IX of the Fourteenth Amended and Restated Certificate of Incorporation be and is hereby amended to add the following language to the end of the existing provision:
“Unless the Corporation consents in writing to the selection of an alternative forum, to the fullest extent permitted by law, the federal district courts of the United States of America shall be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act of 1933, as amended.”

7. RESOLVED THAT, section C of Article XII of the Fourteenth Amended and Restated Certificate of Incorporation, together with the definitions of “Disclosure Guidance and Transparency Rules” and “Voting Rights” in section A. of Article XII of the Fourteenth Amended and Restated Certificate of Incorporation be and are hereby retained in their entirety in the Fifteenth Amended and Restated Certificate of Incorporation of the Company, following the completion of the Proposed Offering notwithstanding that the Company will have a class of shares registered with the SEC pursuant to section 12 of the Exchange Act.

8. RESOLVED THAT each of the President, any Vice President and the Chief Financial Officer of the Company be, and each of them hereby is, authorised and empowered to take any and all action and do any and all things as may be deemed by any of them to be necessary or advisable to file a Fifteenth Amended and Restated Certificate of Incorporation of the Company, solely to reflect the foregoing amendments in Resolutions 2 to 8 as are approved by Stockholders, with the Secretary of State of Delaware, and that the performance by any one of them of any act in connection with the foregoing shall conclusively establish their authority therefor from the Company for the action so taken.

[spittingbarrel] 06/7/2021 14:13

nimbo1, acuere - Thanks.

[x54v] 06/7/2021 11:51

Low volatility flat bases can often lead to good moves.

GATC had a similar formation in the 150s a few weeks ago.

[adamb1978] 06/7/2021 11:36

Its incredible how flat the share price has been for such a long period. You'd usually expect some private investor trading which, due to low volumes, cause some volatility in the price even if ultimately the price ends up somewhat flat after those bumps up and down...!

[acuere] 06/7/2021 11:24

After months of share price stagnation, hopefully clearer guidance this afternoon about the Nasdaq listing should start to get things moving again.


Anyway here is the latest Trinity Delta research note reiterating their 1217p target.

hxxps://www.trinitydelta.org/research-notes/catching-an-unbroken-wave/

[acuere] 06/7/2021 11:07

This is the Telegraph article :-

Questor: a ‘very special company’ about to list where investors will be besotted with it
Questor share tip: MaxCyte offers huge potential but it may take a new listing on Nasdaq to get the share price higher still

We can have no complaint about the performance of shares in MaxCyte, whose hi-tech machines help drugs firms make gene editing treatments: tipped at 370p in October last year, when we said they might be worth 500p, they closed last night at 886p and were as high as £10.40 in February.

Normally we’d consider selling when a target price has been breached so comprehensively but MaxCyte finds itself in an anomalous position that it is about to rectify, a process that could do wonders for the share price.

The company is based in America, has a roster of clients that are largely American and is the type of business that generates great enthusiasm among American investors – yet its shares trade on London’s Aim market. It would make far more sense to have a listing on the stock market favoured by its natural investors – the Nasdaq in New York – and the company is in the process of getting just such a listing.

In the words of Richard Penny of Crux Asset Management, which owns a stake in MaxCyte, “investors in the US are besotted with gene editing – they are hugely buoyant about what they see as the third age of drug discovery” built on the decoding of the human genome 20 years ago.

Besotted investors are in much shorter supply here. Britain may have a huge fund management industry but when it comes to the healthcare sector it lacks the critical mass in terms of specialist analysts, funds and brokers found in America.

In fact, you could say we are positively hostile to healthcare start-ups at present. “Fire sales of the small biotech firms held in Neil Woodford’s funds depressed share prices and damaged sentiment across the board,” Mr Penny said.

We can be much more confident about a Nasdaq listing now than we were when we mentioned the possibility last year. When the firm announced in February the raising of £40m from seven new and existing investors (all but one of them American, unsurprisingly) it said: “The financing will strengthen the company’s balance sheet as we continue to focus on accelerating revenue growth in 2021 and beyond, and marks a further important step towards our goal to dual-list on Nasdaq in 2021.”

But there are positive developments to report from the business’s operations, too. Over the past year or so it has signed partnership agreements with four companies at the heart of what promises to be a whole new industry based on the “Crispr” gene editing tool, which won Nobel Prizes for chemistry for its inventors last year.

The number of drugs being developed with the help of MaxCyte’s “electroporation” machines has increased to more than 140, from about 100 at the time of our original tip, while the total in “milestones221; the company could receive if all those drugs proved successful has risen from $800 (£578m) to “at least $950m”.

As we said before, not all of them will work but we can expect a success rate of perhaps a third. Meanwhile the company makes money by selling or leasing its machines, from the sale of consumables and, in a few years’ time if all goes well, from royalties from successful treatments in which its technology was involved.

Mr Penny acknowledged that “to some extent it requires the Nasdaq listing for the share price to remain high”. But he added: “MaxCyte is a very special company. Maybe it’s expensive for the London market but it’s cheap for the US. The potential here is not just a rise of 10pc or 20pc. And at a market value of almost $1bn it is only just coming on some investors’ radar.”

[nimbo1] 06/7/2021 10:41

Doesn't say anything investors don't know already. In summary - says maxcyte is a high quality company and US investors will love it. Would post it but don't have the subscription although read it at the time, its from 5th may.

[spittingbarrel] 06/7/2021 10:35

x54v - Can you copy and paste the relevant parts of the story? TIA

[x54v] 06/7/2021 09:47

About to break higher? Price action certainly looking interesting here.

[thetrotsky] 05/7/2021 13:21

Assuming the NASDAQ public offering gets approvoval at tomorrow's Special Meeting and NASDAQ approves the dual-listing in due course, then I wouldn't be too surprised to see the share offer priced at around USD20 because IMHO it's quite likely that the US institutional investors and directors will make some shares available in the offering as well (at USD20 the offer price would be about double the subscription price the US institutional investors paid last year).

[trident5] 01/7/2021 11:46

Ass - what do you want - a fairy story?

[assagai] 01/7/2021 11:10

Dull dull dull

Fair summation Nimbo.

[nimbo1] 01/7/2021 11:06

insightful comment as always

[trident5] 01/7/2021 11:01

Buyers = sellers.

[nimbo1] 01/7/2021 10:52

I think this is going to do 50-100% within a few months of the nasdaq float... laugh at that or believe? Whole sector is hot over there.

The latest presentation shows the target market for strategic licenses is c.50 companies (13 currently signed).. so maxcyte will be valued as a call option on a potential 500+ treatments with CTX001 already looking like a potential blockbuster. US can value it, UK can't...is my hunch.

Also the aim shares can be transferred over to nasdaq and aim listing will be gone within about 12 months of the nasdaq ipo imo.

[assagai] 01/7/2021 09:44

Most likely holding a set price for Nasdaq float.

[davemac3] 01/7/2021 09:11

Why is this flatlining?

[trident5] 15/6/2021 10:41

I make that 8 NEDs now!!

[pob69] 14/6/2021 20:19

Interesting article behind paywall

Biotech firm MaxCyte signs lease for new headquarters in Montgomery County

"...inked a 67,000-square-foot lease, taking more than half of a five-story building."

"...secured a long term, below market lease to boost their growth trajectory."

"...plans to "substantially increase its workforce" in the new space" stated the agent for the company.