Business
Twist Bioscience Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)-- Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of
About this update from Twist Bioscience Corporation
[{"type":"text","content":" SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--\nTwist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, today announced the closing of its upsized underwritten public offering of 5,227,272 shares of its common stock at a public offering price of $55.00 per share, including the exercise in full by the underwriters of their option to purchase up to an additional 681,818 shares of common stock in the offering. Twist estimates net proceeds from the offering to be approximately $269.4 million, after deducting the underwriting discount and commissions and estimated offering expenses.\n\nTwist intends to use the net proceeds of the offering, along with its existing cash, cash equivalents and short-term investments to scale its investment in its research and development organization, which includes investing in pharmaceutical biologics drug discovery and in DNA data storage, to increase its investment in its commercial organization to support the growth of its NGS, synbio, pharmaceutical biologics drug discovery programs and its global expansion, to scale its NGS operations and to expand its capacity, and for the remainder to fund working capital and general corporate purposes. Twist may also use a portion of the net proceeds to in-license, acquire or invest in complementary businesses or products.\n\nJ. P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Cowen and Company, LLC and William Blair & Company, L.L.C. acted as joint book-running managers.\n\nThe public offering was made by Twist pursuant to an immediately effective shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 3, 2020. The offering was made only by means of a written prospectus and a prospectus supplement that form a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by request from J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-92...