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Twist Bioscience Announces Pricing of Upsized $130.0 Million Public Offering of Common Stock
SAN FRANCISCO--(BUSINESS WIRE)-- Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality
About this update from Twist Bioscience Corporation
[{"type":"text","content":" SAN FRANCISCO--(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 4,642,857 shares of its common stock at a price to the public of $28.00 per share. 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, are expected to be approximately $130.0 million. Twist has granted the underwriters an option for a period of 30 days to purchase up to an additional 696,428 shares of its common stock at the public offering price, less the underwriting discount and commissions. The offering is expected to close on or about February 24, 2020, subject to the satisfaction of customary closing conditions.\n\n\nTwist intends to use the net proceeds of the offering, along with its existing cash, cash equivalents and short-term investments to scale 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 production capacity, with the remainder to be used for working capital and general corporate purposes.\n\n\nJ.P. Morgan Securities 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\n\nThe securities described above are being offered by Twist pursuant to a shelf registration statement on Form S-3 that was previously filed with and declared effective by the U.S. Securities and Exchange Commission (the “SEC”). The offering will be made only by means of a written prospectus and a prospectus supplement that form a part of the registration statement. A preliminary 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. When available, copies of the final prospectus supplement a...