Calyxt Announces $15 Million Registered Direct Offering

In Minnesota, Calyxt, Inc., a plant-based technology company, entered into definitive agreements with institutional investors for the purchase and sale of 3,750,000 shares of the Company’s common stock, at a purchase price of $4.00 per share, in a registered direct offering, with net proceeds going towards current product development pipeline advancement and more.

Cellectis S.A., the Company’s majority shareholder, subscribed to purchase 1,250,000 shares in the offering. The closing of the offering is expected to occur on or about October 20, 2020, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the transaction.

The gross proceeds to the Company from this offering are expected to be $15 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for general corporate purposes, including to advance its current product development pipeline, to continue to advance its TALEN® technology and its intellectual property portfolio, and to support the execution of its streamlined business model.