Baird served as lead manager on this offering
AboutTwist Bioscience Corporation (“Twist” or the “Company”) (NASDAQ:TWST) recently completed an underwritten public offering of 4,312,500 shares of its common stock at a price to the public of $21.00 per share, which includes the exercise in full by the underwriters of their option to purchase an additional 562,500 shares of common stock. Net proceeds to Twist from the offering were approximately $84.1 million after deducting underwriting discounts and the estimated expenses of the offering. Twist intends to use the net proceeds of the offering, along with its existing cash, cash equivalents and short-term investments to improve and update its platform and core technologies by investing in equipment, expanding its NGS research and development capabilities, investing in production software, consolidating into new operation facilities and increasing its production capacity. The Company also intends to use the proceeds of the offering to expand its commercial operations including marketing, NGS sales and technical services in the United States, Europe and Asia, to continue to expand in the pharmaceutical biologics drug discovery and DNA data storage markets, to establish its NGS operations in China and for working capital and general corporate purposes.
Twist is a leading and rapidly growing synthetic biology company that has developed a disruptive DNA synthesis platform to industrialize the engineering of biology. The core of the platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by “writing” DNA on a silicon chip. Twist is leveraging its unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for NGS preparation, and antibody libraries for drug discovery and development. Twist is also pursuing longer-term opportunities in digital data storage in DNA and biologics drug discovery. Twist makes products for use across many industries including healthcare, industrial chemicals, agriculture and academic research. Twist is headquartered in South San Francisco, California.
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- May 2019
- Twist Bioscience Corporation
- Target Location
- North America