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Twist Bioscience Prices $100M Stock Offering

NEW YORK – Twist Bioscience said on Thursday that it has priced a $100 million public stock offering at $33 per share.

The firm is offering approximately 3 million share of common stock. JP Morgan, Cowen and Company, and Evercore Group are acting as joint book-running managers and Robert W. Baird is acting as lead manager. Twist will grant the underwriters an option to purchase up to an additional 454,545 shares at the public offering price, less the underwriting discount and commissions.

In a statement, Twist said it intends to use the proceeds to invest in R&D and its commercial organization and global expansion, to expand production capacity, and for working capital and general corporate purposes. Twist added that it may use a portion of the proceeds "to in-license, acquire, or invest in complementary businesses or products."

In morning trading on the Nasdaq, shares of Twist were up 2 percent at $37.80.  

This is the latest in a series of stock offerings for Twist since its IPO in late 2018. The firm raised $84 million in May 2019 and $190 million in the quarter ended March 30 from sale of its stock.

Twist expects the offering to close on or about June 8.

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