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Cellular Dynamics International‘s initial public offering raised $43 million, after deducting underwriting discounts and commissions, the company announced today.

Sales of the stock (ICEL) began on July 25. According to a release, CDI will use the net proceeds for research and product development activities; sales and marketing; property, plant and equipment; and for working capital and other general corporate purposes.

The 3,846,000 shares of common stock were priced at $12. The stock closed today at $9.94, just above its low of $9.50.