AbCellera Announces Secondary Private Sale of 11.9 Million Common Shares

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AbCellera (Nasdaq: ABCL) today announced that certain entities owned and/or controlled, directly or indirectly, by Carl Hansen, Ph.D., Cofounder, Chief Executive Officer, and President of AbCellera, and other senior leaders (collectively, the “Selling Shareholders”), have entered into separate share purchase agreements with experienced institutional investors (the “Buyers”), pursuant to which the Buyers purchased an aggregate 11,900,000 common shares (“Shares”). Proceeds from the sale were paid to the Selling Shareholders, and AbCellera did not receive any proceeds.

Dr. Hansen’s sale was in connection with estate planning, technology investing, and charitable giving. Following the sale and the allocation of shares for future charitable donations, Dr. Hansen remains AbCellera’s largest shareholder with 54,354,330 common shares, representing approximately a 20% equity interest on an undiluted basis. Dr. Hansen and other senior executives have not entered into 10b5-1 plans for any future sales of shares.

The Shares were sold by way of a private sale between individual Selling Shareholders and Buyers, who were already investors in AbCellera. The Selling Shareholders coordinated the private sale in response to inbound inquiries from the Buyers. Following the sale, the Selling Shareholders retain approximately 89% of their total equity holdings, which represent approximately 30% of AbCellera’s fully diluted shares. AbCellera filed a Registration Statement on Form S-1 on June 10, 2021 to register the Shares.

This press release shall not constitute an offer to sell or a 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. AbCellera conducted its initial public offering in the United States and not in any Canadian jurisdiction.

About AbCellera Biologics Inc.

AbCellera is a technology company that searches, decodes, and analyzes natural immune systems to find antibodies that its partners can develop into drugs to prevent and treat disease. AbCellera partners with drug developers of all sizes, from large pharmaceutical to small biotechnology companies, empowering them to move quickly, reduce cost, and tackle the toughest problems in drug development. For more information, visit www.abcellera.com.

AbCellera Forward-looking Statements

This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts, and other matters regarding our business strategies, use of capital, results of operations and financial position, and plans and objectives for future operations.

In some cases, you can identify forward-looking statements by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this press release represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law.

Source: AbCellera Biologics Inc.