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Madison company going public

Published On: Jul 10 2013 10:07:24 PM CDT
Updated On: Jul 11 2013 10:26:37 AM CDT
MADISON, Wis. -

A Madison company is going public, according to a release.

Cellular Dynamics International is offering more than 3.8 million shares of common stock, according to the release.

The initial public offering price is currently expected to be between $12 and $14, according to the release.

The company develops and manufactures fully functioning human cells in industrial quantities to precise specifications, according to the release.

The company intends to use the net proceeds that it receives in the offering for research and product development activities; sales and marketing activities, including expansion of its sales force to support the ongoing commercialization of its products; property, plant and equipment, including the build-out of its laboratory in California, and intellectual property; and for working capital and other general corporate purposes, according to the release.

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