Twist Bioscience Raises $250M Via Equity Issued At 11% Discount

Twist Bioscience Corporation TWST has priced its upsized underwritten public offering of 4.5 million at $55.00 per share, with gross proceeds of approximately $250 million. 

• Earlier, the Company had announced the public offering of $200 million.
• The Offer price represents a discount of almost 11% from the last close price of $61.64 on Thursday.
• Underwriters have an option to purchase up to an additional 681,818 shares.
• Twist will use the proceeds, along with its existing cash, cash equivalents, and short-term investments, to scale its investment in its R&D organization. 
• Also See: Twist Bioscience, Eleven Therapeutics Create Synthetic Viral RNA Molecules To Develop Antiviral Vaccines, Therapeutics.
• The Company also uses a portion of the net proceeds to acquire or invest in complementary businesses or products in-license.
• The offering will close by February 15.
• Price Action: TWST shares are down 3.10% at $59.73 during the market session on the last check Friday.