Twist Bioscience Proposes IPO

Twist Bioscience Corporation intends to offer and sell in an underwritten public offering up to $200 million of shares of its common stock.

In addition, it intends to grant the underwriters a 30-day option to purchase up to $30 million of shares of its common stock offered by it in the public offering.

The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Twist intends to use the net proceeds of the offering, along with its existing cash, cash equivalents and short-term investments to scale its 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 programs and its global expansion, to scale its NGS operations and to expand its capacity, 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, Goldman Sachs & Co. LLC, Cowen and Company, LLC and William Blair & Company, LLC are acting as joint book-running managers.