|6 Months Ended|
Jun. 30, 2017
|Subsequent Events [Abstract]|
13. Subsequent Events
In June 2017, the Company entered into a contingent Purchase Agreement with a third party (Buyer) to sell approximately 11 acres of land and buildings located at 2800 Mount Ridge Road in Roseville, Minnesota. The completion of the sale is conditioned on the Company and the buyer entering into a new facility construction agreement and a lease with respect to the property contemplated by the sale agreement. The Company expect to close on the proposed transaction and construction agreement in the second half of 2017. The Company plans to build our headquarters facility at the same location and would be composed of a 35,000 square-foot office and lab building, with greenhouses and outdoor research plots.
Initial Public Offering
On July 25, 2017, the Company completed its IPO of 8,050,000 shares of common stock, which included 1,050,000 shares of common stock pursuant to the exercise of the overallotment option by the Company’s underwriters as described in Note 1. The Company’s shares of common stock trades on the NASDAQ Global Market under the symbol CLXT. The Company received net proceeds of approximately $58.3 million after deducting underwriting discounts and commissions of $3.1 million and other offering expenses of $3.0 million. As part of the IPO, Cellectis purchased 2,500,000 shares of common stock at the IPO price of $8.00 per share. The $58.3 million of net proceeds includes the $20.0 million from Cellectis. The Company used $5.7 million of the proceeds from Cellectis to cover a portion of the outstanding obligations owed to Cellectis.
On July 25, 2017, the Company amended its Amended and Restated Certificate of Incorporation effecting a 2.45-for-1 stock split of its common stock, as described in Note 1.
Increase in Authorized Shares
On July 25, 2017, the Company amended its Amended and Restated Certificate of Incorporation to increase the authorized capital stock of the Company to 325,000,000 shares of which 275,000,000 shares are designated common stock, par value $0.0001, and 50,000,000 shares are designated preferred stock, par value $0.0001.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/presentationRef