Twist Bioscience Upsizes Offering to $300M, Prices at $96
TWST has more than doubled off its 52-week low of $23.3.
Summary
Twist Bioscience priced an upsized public offering of 3.125 million shares at $96.00, raising $300 million — a 20% increase from the $250 million initially announced earlier today. The pricing represents a modest 1% discount to the last close of $97.00, signaling solid demand despite the dilution. Proceeds will fund R&D investments, expansion of manufacturing capacity, product offerings, and working capital. The deal is expected to close August 6, with underwriters holding a 30-day option for an additional 468,750 shares. This follows a June shelf filing and ATM program, marking an aggressive capital raise that dilutes existing shareholders by roughly 5% on the base deal.
At the time of this announcement, TWST was trading at $97.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $23.30 to $106.58. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: BusinessWire.