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 an upsized, underwritten public offering of 4,545,454 shares of its common stock at a price to the public of $55.00 per share. The gross proceeds of the offering to Twist before deducting the underwriting discount and commissions and estimated offering expenses, and assuming no exercise of the underwriters’ option to purchase additional shares from the Company, will be approximately $250 million. Twist has granted the underwriters a 30-day option to purchase up to an additional 681,818 shares of common stock at the public offering price, less the underwriting discount and commissions. The offering is expected to close on or about February 15, 2022, 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 its investment in its research and development organization, which includes investing in pharmaceutical biologics drug discovery and in DNA data 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, L.L.C. are acting as joint book-running managers.