Celcuity’s $15 Million Initial Public Offering


Faegre Baker Daniels represented the underwriters in Celcuity’s initial public offering of 2.7 million shares of common stock. The shares began trading on the NASDAQ Capital Market on Sept. 20, 2017 under the symbol “CELC.”

Celcuity Inc. (“Celcuity”) (NASDAQ: CELC), closed its initial public offering. The closing included an additional 360,000 shares sold to the underwriter pursuant to their option to purchase additional shares to cover over-allotments. The total number of shares sold was 2,760,000 and the total gross proceeds of the offering were $26,220,000. All of the shares were sold by Celcuity. Celcuity’s common stock began trading on September 20, 2017 on the NASDAQ Capital Market under the symbol “CELC.”

Celcuity expects to use the net proceeds from the offering to support research and development activities, clinical trials, development of operational processes and capital expenditures, and for working capital and other general corporate purposes.

Craig-Hallum Capital Group LLC acted as the sole managing underwriter for the initial public offering.

Celcuity is a cellular analysis company that is discovering new cancer sub-types and commercializing diagnostic tests designed to significantly improve the clinical outcomes of cancer patients treated with targeted therapies. Its proprietary CELx diagnostic platform is the only commercially ready technology it is aware of that uses a patient’s living tumor cells to identify the specific abnormal cellular activity driving their cancer and the targeted therapy that can best treat it. This enables Celcuity to develop tests that diagnose new cancer sub-types that molecular diagnostics cannot detect and measure directly the effectiveness of the matching targeted therapy in a patient’s living tumor cells. The company is headquartered in Minneapolis, MN.

Jon Zimmerman (Picture), head of FaegreBD’s capital markets practice, and Ben Stacke, led the team along with Morgan Burns, Ryan Woessner and Jonny Nemani. The team represented Craig-Hallum Capital Group LLC, who acted as sole managing underwriter for the offering.

Involved fees earner: Jonathan Zimmerman – Faegre Baker Daniels; Ryan Woessner – Faegre Baker Daniels; Ben Stacke – Faegre Baker Daniels; Jonny Nemani – Faegre Baker Daniels; Morgan Burns – Faegre Baker Daniels;

Law Firms: Faegre Baker Daniels;

Clients: Craig-Hallum Capital Group LLC;

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Author: Ambrogio Visconti