NEW YORK (GenomeWeb) – Twist Bioscience announced today it has closed an upsized public offering.
The firm sold 4.31 million shares of common stock at $21 per share, which included the underwriters' fully exercised options to purchase 562,500 shares at the public offering price. The firm estimated net proceeds to be approximately $84.1 million after deducting expenses and underwriting discounts and commissions.
Twist had anticipated gross proceeds of $78.8 million, based on a planned offering of 3.75 million shares at $21 per share.
JP Morgan Securities, Cowen and Company, and Evercore Group acted as joint book-running managers for the proposed offering with Robert W. Baird & Co. acting as lead manager.
The firm previously said it intends to use the proceeds 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.
In early afternoon trading on the Nasdaq, shares of Twist were up 4 percent at $22.98.