Secondary Stock OfferingsBy The Online Investor Staff, updated Tue., May. 22, 8:05 AM
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Slide #2. Calyxt, Inc. — Secondary Offering
Calyxt, Inc. (NASDAQ:CLXT)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
Cellectis S.A. (NASDAQ:CLLS,EURONEXTGROWTH,ALCLS) and Calyxt, Inc. (NASDAQ:CLXT) announced that the price of Calyxt's follow-on public offering of 3,600,000 shares of Calyxt's common stock launched May 15, 2018 has been set today at $15.00 per share, representing gross proceeds to Calyxt of $54.0 million. Due to demand, this offering was upsized from the previously announced 3,050,000 shares to accommodate Cellectis to buy 550,000 shares. In connection with the offering, Calyxt granted the underwriters a 30-day option to purchase up to an additional 457,500 shares of Calyxt's common stock. The closing of the offering is expected to occur on May 22, 2018, subject to customary closing conditions.
Calyxt is a consumer-centric, food and agriculture-focused company. Co. is engaged in delivering healthier food ingredients for consumers and agriculturally advantageous traits for farmers, such as herbicide tolerance. Co. develops and creates specialty food ingredients, such as healthier oils and high fiber wheat, and food crops with desirable traits, such as herbicide tolerance. Co.'s gene-editing technology enables it to precisely and specifically edit a plant genome to elicit the desired traits and characteristics, resulting in a final product that has no foreign DNA for the food and agriculture industries.
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Strong Buy (3.60 out of 4)
(ranked higher than approx. 70% of all stocks covered)
Based on Zacks ABR data;
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