Twist Bioscience Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, today announced the closing of its underwritten public offering of 3,484,848 shares of its common stock at a public offering price of $33.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to an additional 454,545 shares of common stock in the offering. Twist estimates net proceeds from the offering to be approximately $107.4 million, after deducting the underwriting discount and commissions and estimated offering expenses.

Twist intends to use the net proceeds of the offering, along with its existing cash, cash equivalents and short-term investments to scale investment in its research and development organization, which includes investing in pharmaceutical biologics drug discovery and in DNA data storage, to increase its investment in its commercial organization to support the growth of its NGS, synbio, pharmaceutical biologics drug discovery (antibody) programs and its global expansion, to scale its NGS, synbio and pharmaceutical biologics drug (antibody) discovery operations and to expand its production capacity, which may require it to add an additional manufacturing location, and for the remainder to fund working capital and general corporate purposes. Twist may also use a portion of the net proceeds to in-license, acquire or invest in complementary businesses or products.

J.P. Morgan Securities LLC, Cowen and Company, LLC and Evercore Group L.L.C. acted as joint book-running managers. Robert W. Baird & Co. Incorporated acted as lead manager.

The public offering was made by Twist pursuant to an immediately effective shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 3, 2020. The offering was made only by means of a written prospectus and a prospectus supplement that form a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by request from J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at [phone], or by email at [e-mail], or from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by email at [e-mail] or by telephone at [phone], or from Evercore Group L.L.C. c/o Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, or by telephone at [phone], or by email at [e-mail].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer, solicitation, or sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Legal Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements. Various statements in this release concerning Twist’s future expectations, plans and prospects, including without limitation, the anticipated use of the net proceeds of the offering, are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause Twist Bioscience’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risks and uncertainties set forth in Twist Bioscience’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 13, 2020, the final prospectus supplement related to the public offering and subsequent filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Twist Bioscience specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.