MaxCyte to consolidate its restricted and unrestricted shares

Cell engineering technology company MaxCyte announced the consolidation of the two lines of its common stock into a single unrestricted line of common stock on Monday.

The Nasdaq and AIM-traded firm said the consolidation would be affected by the transfer of all stock comprising the Regulation S restricted trading line, ticker ‘MXCN’. to the unrestricted common stock trading line, ticker ‘MXCT’.

It said the consolidation was taking place on the back of the expiration of the distribution compliance period of the subscription of new shares, announced on 3 February 2021.

“The consolidation is intended to help both trading liquidity and transparency for shareholders, and will result in the cancellation of trading of the Regulation S restricted trading line MXCN,” the board said in its statement.

Currently, MaxCyte common stock is held as unrestricted common stock trading under the symbol ‘MXCT’, and restricted common stock trading under the symbol ‘MXCN’.

“Following a recent exercise of options and issue of new common stock, the number of unrestricted shares of common stock currently trading under the symbol MXCT is 100,956,992, and the number of restricted shares of common stock currently trading under the symbol MXCN is 330,000,” the directors confirmed.

“The consolidation will be effective from 25 February, following which 101,286,992 MaxCyte common stock will be held as unrestricted shares in MXCT.”

At 0927 GMT, shares in MaxCyte were down 0.82% in London, at 495.9p.