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Twist Bioscience Prices $130M Upsized Stock Offering

NEW YORK – Twist Bioscience said Wednesday after the close of the market that it has priced an underwritten public offering of approximately 4.6 million shares of common stock at $28 per share.

The San Francisco-based synthetic DNA producer expects gross proceeds of about $130 million from the offering, above its previous expectation of $100 million. It will use the funds invest in R&D, scale commercial operations, and expand production capacity.

Twist has also granted the underwriters an option to purchase an additional 696,428 shares at the offering price, less discount and commissions.

JP Morgan, Cowen, and Evercore Group are acting as joint book-running managers and Robert W. Baird as lead manager.

Twist also completed an offering of approximately 2.2 million shares of common stock in January, raising about $48.2 million.

Twist expects the offering to close on or around Feb. 24.

In early Thursday trade on the Nasdaq, shares of Twist were up around 1 percent at $31.47.