MaxCyte to consolidate two of its lines of shares

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

The AIM-traded firm said it would be effected by the transfer of all stock comprising the Regulation S restricted trading line ‘MXCL’, to the unrestricted common stock trading line ‘MXCT’.

It had previously said it intended the two lines of common stock to be consolidated following expiration of the distribution compliance period in relation to new shares on 22 May 2020.

The consolidation was intended to help both trading liquidity and transparency for shareholders, and would result in the cancellation of trading of the Regulation S restricted trading line ‘MXCL’.

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

The number of unrestricted shares of common stock trading under ‘MXCT’ is 74,454,534, while there are 9,900,089 restricted shares under ‘MXCL’ and 330,000 restricted shares under ‘MXCN’.

“The consolidation will have a record date of 21 May and will be effective from 24 May, following which 84,354,623 MaxCyte common stock will be held as unrestricted shares in ‘MXCT’,” the board said in its statement.

“The number of restricted shares of common stock trading under the symbol MXCN will remain as 330,000 for the remainder of the applicable distribution compliance period.”

At 1104 BST, shares in MaxCyte were up 0.06% at 892.5p.