Business
Twist Bioscience Announces Pricing of a $300 Million Upsized Public Offering of Common Stock
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 pricing of an underwritten public offering of 2,802,272 shares of its common stock at a price to the public of $110.00 per share, which consists of 2,727,272 shares to be sold by Twist and 75,000 shares to be sold by certain selling stockholders. The gross proceeds of the offering to Twist before deducting the underwriting discount and commissions and estimated offering expenses, and assuming no exercise of the underwriters’ option to purchase additional shares from the Company, are expected to be approximately $300 million. Twist has granted the underwriters a 30-day option to purchase up to an additional 409,090 shares of common stock at the public offering price, less the underwriting discount and commissions. The offering is expected to close on or about December 7, 2020, subject to the satisfaction of customary closing conditions. Twist will not receive any proceeds from the sale of common stock by the selling stockholders.\n\nTwist intends to use the net proceeds to be received by it in 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. are acting as joint book-running managers. Robert W. Baird & Co. Incorporated is acting as lead manager.\n\nThe securities described above are being offered by Twist and the selling stockholders pursuant to an automatic shelf registration statement on Form S-3 t...