The biotech firm priced 3.125 million shares to fund operations and growth, with underwriters holding a 30-day option for more.
Twist Bioscience secured $300 million in gross proceeds by pricing 3.125 million common shares at $96.00 each in an upsized public offering. The move aims to bolster liquidity and support expansion initiatives amid ongoing research and development efforts.
The offering exceeds initial expectations, reflecting strong investor demand. Underwriters have a 30-day option to purchase an additional 468,750 shares, which could further increase proceeds. Twist Bioscience has not disclosed specific use of funds but typically allocates capital toward scaling production and advancing synthetic biology projects.
Shares of Twist Bioscience traded at $96.00 in the offering, aligning with recent market valuations. The company’s stock performance has been volatile, influenced by broader biotech sector trends and quarterly earnings reports.