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Twist Bioscience Proposes $250M Public Offering

NEW YORK – Twist Bioscience said on Tuesday that it intends to offer shares of its common stock worth $250 million. Certain selling stockholders intend to offer 75,000 shares in the offering.

In a statement, Twist said it plans to use the proceeds to increase operational capacity, tooling, and scaling an additional manufacturing location; invest in automation, research and development, its commercial organization, and IT infrastructure; and for 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," the firm said. Twist will not receive any proceeds from the sale of the shares offered by the selling stockholders.

JP Morgan, Goldman Sachs, Cowen, and Evercore ISI are acting as joint book-running managers. Robert W. Baird is acting as lead manager. Twist intends to grant the underwriters a 30-day option to purchase up to $37.5 million worth of shares in the offering.

This is the third stock offering this year for the South San Francisco, California-based synthetic DNA manufacturer. The firm raised more than $230 million in total from public offerings in February and June.

In Wednesday afternoon trading on the Nasdaq, shares of Twist were down just over 2 percent to $115.37.