Twist Bioscience Announces Pricing of $100 Million Public Offering of Common Stock

Twist Bioscience Corporation announced the pricing of an underwritten public offering of 3,030,303 shares of its common stock at a price to the public of $33.00 per share.

The gross proceeds of the offering before deducting the underwriting discount and commissions and estimated offering expenses, and assuming no exercise of the underwriters’ option to purchase additional shares, are expected to be approximately $100 million. The company has granted the underwriters an option for a period of 30 days to purchase up to an additional 454,545 shares of its common stock at the public offering price, less the underwriting discount and commissions. The offering is expected to close on or about June 8, 2020, subject to the satisfaction of customary closing conditions.

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 R&D organization, which includes investing in pharmaceutical biologics drug discovery and in DNA storage, to increase its investment in its commercial organization to support the growth of its NGS, synbio, 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.

J.P. Morgan Securities LLC, Cowen and Company, LLC and Evercore Group LLC are acting as joint book-running managers. Robert W. Baird & Co. Incorporated is acting as lead manager.