Twist Bioscience Announces Closing of Upsized Public Offering of Common Stock & Full Exercise of Underwriters’ Option to Pu...
December 07 2020 - 3:05PM
Business Wire
Twist 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.
Twist 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.
J. 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.
The 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 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)
803-9204, or by email at prospectus-eq_fi@jpmchase.com, or from
Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282,
Attn: Prospectus Department, by telephone at (866) 471-2526, or by
email at prospectus-ny@ny.email.gs.com, or from Cowen and Company,
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, Attn: Prospectus Department, by email at
PostSaleManualRequests@broadridge.com or by telephone at (833)
297-2926, or from Evercore Group L.L.C. c/o Equity Capital Markets,
55 East 52nd Street, 35th Floor, New York, NY 10055, or by
telephone at (888) 474-0200, or by email at
ecm.prospectus@evercore.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any offer,
solicitation, or 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.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements. Various
statements in this release concerning Twist Bioscience’s future
expectations, plans and prospects, including without limitation,
the anticipated use of the net proceeds of the offering, are
forward-looking statements reflecting the current beliefs and
expectations of management made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve known and unknown risks,
uncertainties, and other important factors that may cause Twist
Bioscience’s actual results, performance, or achievements to be
materially different from any future results, performance, or
achievements expressed or implied by the forward-looking
statements. Such risks and uncertainties include, among others, the
risks and uncertainties set forth in Twist Bioscience’s Annual
Report on Form 10-K filed with the Securities and Exchange
Commission on November 27, 2020, the final prospectus supplement
related to the public offering and subsequent filings with the SEC.
Any forward-looking statements contained in this press release
speak only as of the date hereof, and Twist Bioscience specifically
disclaims any obligation to update any forward-looking statement,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20201207005900/en/
Twist Contact: Angela Bitting 925-202-6211
abitting@twistbioscience.com
Maeve Conneighton Argot Partners 212-600-1902
maeve@argotpartners.com
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