Twist Bioscience Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares
February 15 2022 - 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
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.
Twist 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.
J. 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.
The 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) 803-9204, 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.
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 Quarterly
Report on Form 10-Q filed with the Securities and Exchange
Commission on February 9, 2022, 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/20220215006128/en/
Angela Bitting 925-202-6211 abitting@twistbioscience.com
Twist Bioscience (NASDAQ:TWST)
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