Twist Bioscience Announces Pricing of $78.8 Million Public Offering of Common Stock

SAN FRANCISCO--(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 pricing of its underwritten public offering of 3,750,000 shares of its common stock at a price to the public of $21.00 per share, before underwriting discounts and commissions. In addition, the company has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 562,500 shares of the company’s common stock at the public offering price, less the underwriting discount and commissions. The gross proceeds of the offering to Twist, before deducting underwriting discounts and commissions and other offering expenses payable by Twist, are expected to be $78.8 million, excluding any exercise of the underwriters’ option to purchase additional shares.

Twist intends to use the net proceeds of the offering, along with its existing cash, cash equivalents and short-term investments to improve and update its platform and core technologies by investing in equipment, expanding its NGS research and development capabilities, investing in production software, consolidating into new operation facilities and increasing its production capacity. It also intends to use the proceeds of the offering to expand its commercial operations including marketing, NGS sales and technical services in the United States, Europe and Asia, to continue to expand in the pharmaceutical biologics drug discovery and DNA data storage markets, to establish its NGS operations in China and for working capital and general corporate purposes.

The offering is expected to close on or about May 13, 2019, subject to the satisfaction of customary closing conditions.

J.P. Morgan Securities LLC, Cowen and Company, LLC and Evercore Group L.L.C. are acting as joint book-running managers for the proposed offering. Robert W. Baird & Co. Incorporated is acting as lead manager.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on May 8, 2019. This offering is being made solely by means of a prospectus. Copies of the prospectus related to the offering may be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by telephone at (631) 274-2806, or from Evercore Group L.L.C. c/o Equity Capital Markets, 55 East 52^nd Street, 36h Floor, New York, NY 10055, or by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any 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.

About Twist Bioscience Corporation

Twist Bioscience is a leading and rapidly growing synthetic biology company that has developed a disruptive DNA synthesis platform to industrialize the engineering of biology. The core of the platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by “writing” DNA on a silicon chip. Twist is leveraging its unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for next-generation sequencing (NGS) preparation, and antibody libraries for drug discovery and development. Twist is also pursuing longer-term opportunities in digital data storage in DNA and biologics drug discovery. Twist makes products for use across many industries including healthcare, industrial chemicals, agriculture and academic research.

Legal Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts contained herein are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the expected closing of the public offering. 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 of the ability to attract new customers and retain and grow sales from existing customers; risks and uncertainties of rapidly changing technologies and extensive competition in synthetic biology could make the products Twist Bioscience is developing obsolete or non-competitive; uncertainties of the retention of a significant customer; risks of third party claims alleging infringement of patents and proprietary rights or seeking to invalidate Twist Bioscience’s patents or proprietary rights; and the risk that Twist Bioscience’s proprietary rights may be insufficient to protect its technologies. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Twist Bioscience’s business in general, see Twist Bioscience’s risk factors set forth in Twist Bioscience’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 2, 2019. 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.

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