Baird served as lead manager on this offering
AboutTwist Bioscience Corporation (“Twist”) (NASDAQ:TWST) recently completed an upsized underwritten public offering of 5,339,285 shares of its common stock at a price to the public of $28.00 per share, which includes the exercise in full by the underwriters of their option to purchase an additional 696,428 shares of common stock. Twist estimates net proceeds from the offering to be approximately $140.0 million after deducting underwriting discounts 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 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.
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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- February 2020
- Twist Bioscience Corporation
- Target Location
- North America