MaxCyte Shares Decline Following $151.8 Million Acquisition of Akron Bio
MaxCyte (MXCT) shares fell by more than 10% on Tuesday following the announcement of a definitive agreement to acquire Akron Bio, a Florida-based provider specializing in materials and manufacturing services for the cell and gene therapy sector. The acquisition is structured as a combination of cash and stock, valued at approximately $151.8 million. The move is intended to bolster MaxCyte's capabilities within the cell and gene therapy industry by integrating Akron Bio's specialized service offerings.