Calyxt, Inc., a company which is substantially owned by Cellectis SA, priced and upsized an offering of common stock.
The food- and agriculture-focused company is looking to raise $54 million via the sale of 3.6 million shares at $15 apiece. The offering was upsized from the previously announced 3,050,000 shares to allow Cellectis to buy 550,000 stocks of the company.
Citigroup, Goldman Sachs & Co. LLC and Jefferies are acting as book-running managers for the offering which is expected to close May 22. Wells Fargo Securities is acting as lead manager and BMO Capital Markets Corp. is acting as co-manager.
The underwriters have an option to buy an additional 457,500 shares.
Following the closing of the offering, Cellectis will own approximately 71.6% of Calyxt's outstanding shares.