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Twist Bioscience Announces Closing of Upsized 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 underwritten public offering of 3,211,362 shares of its common stock at a public offering price of $110.00 per share, which consists of 3,136,362 shares sold by Twist, including the exercise in full by the underwriters of their option to purchase up to an additional 409,090 shares of common stock in the offering, and 75,000 shares sold by certain selling stockholders. Twist estimates net proceeds from the offering to be approximately $323.7 million, after deducting the underwriting discount and commissions and estimated offering expenses. Twist will not receive any proceeds from the sale of common stock by the selling stockholders.\n\nTwist intends to use the net proceeds of the offering, along with its existing cash, cash equivalents and short-term investments to increase its operational capacity, tooling, and scaling an additional manufacturing location to support its growth in NGS, synbio, DNA prep, its pharmaceutical biologics antibody platform and IgG products; increase its investment in automation and research and development, which includes investing in NGS, synbio, its pharmaceutical biologics antibody platform, and in DNA data storage; increase its investment in its commercial organization and its IT infrastructure; 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 Evercore Group L.L.C. acted as joint book-running managers. Robert W. Baird & Co. Incorporated acted as lead manager.\n\nThe public offering was made by Twist and the selling stockholders 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...