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, recently 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 includes 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. The offering consists of 3,136,362 shares sold by Twist and 75,000 shares sold by certain selling stockholders. Twist estimates net proceeds from the offering to be approximately $323.7 million (which does not include the approximately $7.8 million of net proceeds to selling stockholders), after deducting the underwriting discount and commissions and estimated offering expenses.
Twist intends to use the net proceeds 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.
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.
CONTACT US TO LEARN MORE
- December 2020
- Twist Bioscience Corporation
- Target Location
- North America