Absci Announces Closing of Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
Absci Corporation announced the closing of its initial public offering (IPO) on July 26, 2021, raising $230 million by selling 14,375,000 shares of common stock at $16.00 per share.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Absci Corporation announced the closing of its initial public offering (IPO) on July 26, 2021, raising $230 million by selling 14,375,000 shares of common stock at $16.00 per share. The offering included full exercise of the underwriters' option for an additional 1,875,000 shares. Absci's stock began trading on the Nasdaq Global Select Market under the ticker symbol ABSI on July 22, 2021. Leading underwriters included J.P. Morgan, Credit Suisse, and BofA Securities.
Positive
- Raised $230 million from the IPO for future business initiatives.
- Successful execution of the IPO with full underwriter's option exercised.
Negative
- Potential shareholder dilution from the issuance of new shares.
Details
News Market Reaction – ABSI
The recorded move for ABSI in the trading session of this news was -1.23%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, Wash., July 26, 2021 (GLOBE NEWSWIRE) -- Absci Corporation (“Absci”), the synthetic biology company unlocking the potential of proteins as next-generation therapeutics, today announced the closing of its initial public offering of 14,375,000 shares of common stock, including the exercise in full by the underwriters of their option to purchase up to an additional 1,875,000 shares of common stock, at a public offering price of
J.P. Morgan, Credit Suisse, BofA Securities, Cowen, and Stifel acted as lead book-running managers for the offering.
A registration statement relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on July 21, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: J.P. Morgan Securities LLC,, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037, or by email at usa.prospectus@credit-suisse.com; BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, or by e-mail at dg.prospectus_requests@bofa.com; Cowen and Company LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY,11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720, or by email at syndprospectus@stifel.com. Copies of the final prospectus related to the offering are available at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 the registration or qualification under the securities laws of any such state or other jurisdiction.
About Absci
Absci is the AI-powered synthetic biology company unlocking the potential of proteins as the next generation of therapeutics. We built our Integrated Drug Creation™ Platform to accelerate discovery of novel biotherapeutic drug candidates and generation of the cell lines to manufacture them in a single efficient process. Biotech and pharma innovators partner with us to develop new protein-based drugs, including those that may be impossible to make with other technologies. Our goal is to enable the creation of better medicines by Translating Ideas into DrugsTM.
Investor Contact
investors@absci.com
Media Contact
absci@missionnorth.com
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