NEW YORK – Twist Bioscience said on Wednesday after the close of the market that it intends to offer shares of its common stock worth up to $200 million.
On Thursday, Twist announced pricing for an upsized offering of $250 million. The firm will offer approximately 4.5 million shares of common stock at a price of $55 per share.
The company plans to use the proceeds from the offering, along with existing funds, to scale support for its research and development organization, including pharmaceutical biologics drug discovery and DNA data storage; increase investment in its commercial organization and global expansion; expand its next-generation sequencing operations. The remainder will go toward working capital and general corporate purposes, and a portion may be used to in-license, acquire, or invest in complementary businesses or products.
JP Morgan, Goldman Sachs, Cowen, and William Blair are acting as joint book-running managers. Twist intends to grant the underwriters a 30-day option to purchase up to $37.5 million worth of shares in the offering.
The South San Francisco, California-based synthetic DNA manufacturer raised $300 million in a December 2020 public stock offering.
The offering is expected to close on or about Feb. 15.
In Friday morning trading on the Nasdaq, shares of Twist were down slightly at $60.58.