Cellectis: Calyxt Announces Proposed Initial Public Offering of $100.0 Million

ST. PAUL, Minn. & NEW YORK–(BUSINESS WIRE)– Regulatory News:

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Cellectis S.A. (Paris:ALCLS) (NASDAQ:CLLS) and Calyxt, Inc. announced
today that Calyxt has commenced a proposed initial public offering of
6,060,606 shares of Calyxt’s common stock pursuant to a registration
statement on Form S-1 with the U.S. Securities and Exchange Commission
(SEC). In connection with the offering, Calyxt intends to grant the
underwriters an option to purchase up to 909,091 additional shares of
common stock to cover over-allotments. The estimated price range for the
initial public offering is $15.00 to $18.00 per share of common stock,
which would result in gross proceeds of $100.0 million at the midpoint
of the estimated price range. Calyxt has applied to list its common
stock on the NASDAQ under the ticker symbol “CLXT.”

Calyxt is Cellectis’ 100% owned gene editing agriculture company.
Cellectis intends to retain majority ownership of Calyxt.

Citigroup, Jefferies and Wells Fargo Securities are acting as joint
book-running managers for the proposed offering. BMO Capital Markets and
Ladenburg Thalmann are acting as co-managers.

This offering will be made only by means of a prospectus (included in
the registration statement on Form S-1). A copy of the preliminary
prospectus may be obtained from Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717, or by telephone at (800) 831-9146, Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor,
New York, NY 10022, or by telephone at (877) 547-6340, or by e-mail at Prospectus_Department@Jefferies.com,
or Wells Fargo Securities, Attention: Equity Syndicate Department, 375
Park Avenue, New York, New York, 10152, at (800) 326-5897 or by email at cmclientsupport@wellsfargo.com.

A registration statement relating to these securities has been filed
with the SEC but has not yet become effective. The registration
statement is available at www.sec.gov
or https://www.cellectis.com/FINAL.calyxt.s1.july.10.2017.pdf.
These securities may not be sold, nor may offers to buy be accepted,
prior to the time the registration statement becomes effective. This
press release shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

This press release contains inside information within the meaning of
Article 7(1) of the EU Market Abuse Regulation.

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