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Twist Bioscience Prices $79M Stock Offering

NEW YORK (GenomeWeb) – Twist Bioscience has priced a public offering of 3.75 million shares of its common stock at $21 per share. Twist anticipates gross proceeds of $78.8 million from the offering.

As the company said earlier this week, it intends to use the proceeds along with its existing cash to invest in equipment, expand its next-generation sequencing R&D capabilities, invest in production software, consolidate its operation facilities, and increase its production capacity. Twist also plans to expand its commercial operations, including marketing and NGS sales, as well as to expand its pharmaceutical biologics drug discovery and DNA storage markets and to establish NGS operations in China.

Twist has also granted the underwriters a 30-day option to purchase an additional 562,500 shares of its common stock at the public offering price.

JP Morgan Securities, Cowen and Company, and Evercore Group will act as joint book-running managers for the proposed offering with Robert W. Baird & Co. acting as lead manager.