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 story : Cytek BioSciences could be valued at more than .3 billion as IPO terms have been set #FinanceUSA #StockMarketNEWS Cytek BioSciences Inc. has set terms for its initial public offering, in which the

@stockMarketNEWS 12 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

Cytek BioSciences could be valued at more than .3 billion as IPO terms have been set #FinanceUSA #StockMarketNEWS
Cytek BioSciences Inc. has set terms for its initial public offering, in which the California-based cell analysis company could be valued at up to .35 billion. A total of 14.56 million shares are being offered in the IPO, which is expected to price between and a share, with the company offering 11.76 million shares to raise up to 1.8 million and selling stockholders offering 2.80 million shares to raise up to .4 million. The company expects there to be 130.81 million shares outstanding after the IPO. The stock is expected to list on the Nasdaq under the ticker symbol "CTKB." Morgan Stanley, Goldman Sachs, Piper Sandler and Cowen are the underwriters. The company recorded net income of .7 million on revenue of .8 million in 2020, after a loss of .3 million on revenue of .9 million in 2019. The company is looking to go public at a time that the Renaissance IPO ETF has slipped 4.3% over the past three months, while the iShares Biotechnology ETF has gained 6.0% and the S&P 500 has tacked on 3.9%.


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