MaxCyte to Pay $105 Million in Cash as Part of Acro Biosystems Deal
Key Facts
MaxCyte announced an agreement to acquire Acro Biosystems, including a $105 million cash payment at closing, alongside shares and guaranteed deferred payments. The company will issue 20,639,733 common shares, valued at an estimated $26.8 million based on the closing price on November 9, 2026. The consideration also includes two deferred payments of $10 million each, due on the first business day of January 2028 and the first business day of January 2029, respectively. The cash amount is subject to customary closing adjustments, MaxCyte said. The structure thus combines cash, shares and future payment obligations spread over two years.
MaxCyte expects Acro Biosystems to generate revenue of about $28 million in 2026, along with earnings before interest, taxes, depreciation and amortization of between $7 million and $8 million. The company said Acro would also generate positive cash flow during the year. These estimates are based on the expected performance of the acquired company and do not represent final actual results. The expected cash flow is central to the financial rationale for the deal presented by MaxCyte. The available information did not detail how Acro’s revenue is distributed among its activities or its historical growth rates.
MaxCyte said the combination would expand its presence across stages of cell therapy manufacturing and add recurring revenue to its business. It said the combined portfolio would support five commercially approved therapies and more than 100 clinical programs. The deal thus forms part of an effort to broaden the services offered to cell therapy programs, while adding Acro’s business to MaxCyte’s platform. The company did not specify the amount of recurring revenue it expects to add or when it would be reflected in results. Nor did it provide a separate estimate of the cost savings or revenue expected from combining the companies.
The company expects Acro’s positive cash performance to help reduce the combined company’s annual cash burn rate to less than $10 million in 2027. It also estimated that available cash at closing would be between $40 million and $45 million. MaxCyte linked this outlook to Acro’s cash flow and earnings before interest, taxes, depreciation and amortization. These figures remain forward-looking estimates disclosed by the company, and their realization depends on the deal closing and the businesses’ actual performance. The available information did not specify when the estimates would be updated after the acquisition closes.
MaxCyte also announced a new credit facility from MidCap Financial of up to $75 million, comprising a $55 million term loan and a $20 million revolving credit line. The company expects to draw $20 million from the loan and $2 million from the credit line at closing. The financing is an additional source of liquidity associated with the deal, alongside the cash the company expects to have at closing. The available information did not specify repayment terms or borrowing costs. It also did not say whether the company would draw additional amounts under the facility after the expected closing draws.
MaxCyte expects to complete the deal before the end of 2026, subject to customary closing conditions. It said the agreement does not include a financing condition and does not require shareholder approval. Completing the deal within the expected timeframe would allow the company to include Acro’s results in its consolidated business, though the timing and scale would depend on the actual closing date. The announcement follows MaxCyte’s acquisition of SeQure in January 2025 for $2.339 million, a deal the company said at the time was intended to expand its gene-editing assessment tools and services. The current deal differs from that earlier acquisition in its disclosed consideration and the scale of the expected business contribution.