Baird served as lead manager on this offering
AboutTwist Bioscience Corporation (“Twist” or the “Company”) (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 3,484,848 shares of its common stock at a public offering price of $33.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to an additional 454,545 shares of common stock in the offering. Twist estimates net proceeds from the offering to be approximately $107.4 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 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 and pharmaceutical biologics drug discovery (antibody) programs and its global expansion, to scale its NGS, synbio and pharmaceutical biologics drug (antibody) discovery operations and to expand its production capacity, which may require it to add an additional manufacturing location, 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.
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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- June 2020
- Twist Bioscience Corporation
- Target Location
- North America