Twist Bioscience Announces Pricing of $78.8 Million Public Offering of Common Stock
May 08 2019 - 8:03PM
Business Wire
Twist Bioscience Corporation (NASDAQ: TWST), a company enabling
customers to succeed through its offering of high-quality synthetic
DNA using its silicon platform, today announced the pricing of its
underwritten public offering of 3,750,000 shares of its common
stock at a price to the public of $21.00 per share, before
underwriting discounts and commissions. In addition, the company
has granted the underwriters of the offering an option for a period
of 30 days to purchase up to an additional 562,500 shares of the
company’s common stock at the public offering price, less the
underwriting discount and commissions. The gross proceeds of the
offering to Twist, before deducting underwriting discounts and
commissions and other offering expenses payable by Twist, are
expected to be $78.8 million, excluding any exercise of the
underwriters’ option to purchase additional shares.
Twist intends to use the net proceeds of the offering, along
with its existing cash, cash equivalents and short-term investments
to improve and update its platform and core technologies by
investing in equipment, expanding its NGS research and development
capabilities, investing in production software, consolidating into
new operation facilities and increasing its production capacity. It
also intends to use the proceeds of the offering to expand its
commercial operations including marketing, NGS sales and technical
services in the United States, Europe and Asia, to continue to
expand in the pharmaceutical biologics drug discovery and DNA data
storage markets, to establish its NGS operations in China and for
working capital and general corporate purposes.
The offering is expected to close on or about May 13, 2019,
subject to the satisfaction of customary closing conditions.
J.P. Morgan Securities LLC, Cowen and Company, LLC and Evercore
Group L.L.C. are acting as joint book-running managers for the
proposed offering. Robert W. Baird & Co. Incorporated is acting
as lead manager.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission and became
effective on May 8, 2019. This offering is being made solely by
means of a prospectus. Copies of the prospectus related to the
offering may be obtained from J.P. Morgan Securities LLC,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or from Cowen and Company, LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
Attention: Prospectus Department, or by telephone at (631)
274-2806, or from Evercore Group L.L.C. c/o Equity Capital Markets,
55 East 52nd Street, 36h Floor, New York, NY 10055, or by telephone
at (888) 474-0200, or by email at ecm.prospectus@evercore.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Twist Bioscience Corporation
Twist Bioscience 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 next-generation sequencing (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.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements. All
statements other than statements of historical facts contained
herein are forward-looking statements reflecting the current
beliefs and expectations of management made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995, including, but not limited to, the expected closing of the
public offering. Such forward-looking statements involve known and
unknown risks, uncertainties, and other important factors that may
cause Twist Bioscience’s actual results, performance, or
achievements to be materially different from any future results,
performance, or achievements expressed or implied by the
forward-looking statements. Such risks and uncertainties include,
among others, the risks and uncertainties of the ability to attract
new customers and retain and grow sales from existing customers;
risks and uncertainties of rapidly changing technologies and
extensive competition in synthetic biology could make the
products Twist Bioscience is developing obsolete or
non-competitive; uncertainties of the retention of a significant
customer; risks of third party claims alleging infringement of
patents and proprietary rights or seeking to invalidate Twist
Bioscience’s patents or proprietary rights; and the risk that Twist
Bioscience’s proprietary rights may be insufficient to protect its
technologies. For a further description of the risks and
uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks
relating to Twist Bioscience’s business in general, see Twist
Bioscience’s risk factors set forth in Twist Bioscience’s Quarterly
Report on Form 10-Q filed with the Securities and Exchange
Commission on May 2, 2019. Any forward-looking statements
contained in this press release speak only as of the date hereof,
and Twist Bioscience specifically disclaims any
obligation to update any forward-looking statement, whether as a
result of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20190508005983/en/
Twist Investor Contact:Argot PartnersMaeve
Conneighton212-600-1902maeve@argotpartners.com
Twist Media Contact:Angela Bitting925-
202-6211media@twistbioscience.com
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