Twist Bioscience Closes IPO

Twist Bioscience Corporation closed its upsized underwritten public offering of 5,227,272 shares of its common stock at a public offering price of $55.00 per share, including the exercise in full by the underwriters of their option to purchase up to an additional 681,818 shares of common stock in the offering.

It estimates net proceeds from the offering to be approximately $269.4 million, after deducting the underwriting discount and commissions and estimated offering expenses.

It 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. The firm 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 acted as joint book-running managers.

The public offering was made by Twist pursuant to an immediately effective shelf registration statement on Form S-3 that was filed with the US SEC on June 3, 2020.