Absci Announces Pricing of Public Offering of Common Stock

Rhea-AI Summary

Absci (Nasdaq: ABSI), a clinical-stage biopharmaceutical company focused on AI-designed therapeutics, has announced the pricing of its public offering of 16,670,000 common stock shares at $3.00 per share. The offering is expected to generate gross proceeds of approximately $50 million before deductions.

The company has granted underwriters a 30-day option to purchase up to 2,500,500 additional shares. The proceeds will fund internal program advancement, investment in their Integrated Drug Creation™ platform, and general corporate purposes. The offering, managed by Morgan Stanley, J.P. Morgan, Jefferies, and TD Cowen, is expected to close around July 25, 2025.

Positive

• None.

Negative

• Significant shareholder dilution from 16.67M new shares
• Offering price of $3.00 per share indicates relatively low valuation
• Additional dilution possible if underwriters exercise option for 2.5M more shares

VANCOUVER, Wash., July 24, 2025 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI) (“Absci”), a clinical-stage biopharmaceutical company advancing potential breakthrough therapeutics designed with generative AI, today announced the pricing of an underwritten public offering of 16,670,000 shares of its common stock at a public offering price of $3.00 per share, before deducting underwriting discounts and commissions. In addition, Absci has granted the underwriters a 30-day option to purchase up to an additional 2,500,500 shares of its common stock on the same terms and conditions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $50 million, excluding any exercise of the underwriters' option to purchase additional shares. All of the shares in the offering are to be sold by Absci.

Absci intends to use the net proceeds from the offering to fund the advancement of its internally developed programs, continued investment in its Integrated Drug Creation™ platform, and for working capital and other general corporate purposes.

Morgan Stanley, J.P. Morgan, Jefferies, and TD Cowen are acting as joint book-running managers for the offering. The offering is expected to close on or about July 25, 2025, subject to the satisfaction of customary closing conditions.

The shares of common stock are being offered by Absci pursuant to an effective shelf registration statement on Form S-3 (File No. 333-267043) that was previously filed with the U.S. Securities and Exchange Commission (SEC) on August 24, 2022 and became effective on September 2, 2022. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering was filed with the SEC on July 24, 2025. The final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and may be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by telephone: (866) 718-1649, or by email at prospectus@morganstanley.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at prospectus_department@jefferies.com; TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (833) 297- 2926, or by email at TD.ECM_Prospectus@tdsecurities.com; or by accessing the SEC’s website 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 registration or qualification under the securities laws of any such state or jurisdiction.

About Absci

Absci is a data-first generative AI drug creation company that combines AI with scalable wet lab technologies to create better biologics for patients, faster. Absci’s headquarters is in Vancouver, WA, with our AI Research Lab in New York City and an Innovation Center in Zug, Switzerland.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding Absci’s anticipated public offering. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “expect,” “estimate,” “seek,” “predict,” “future,” “project,” “potential,” “continue,” “target” and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Any forward-looking statements in this press release, such as the intended offering terms, are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, uncertainties related to market conditions, statements about the expected gross proceeds from the offering and use of proceeds, and the completion of the offering on the anticipated terms or at all. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Absci’s Annual Report on Form 10-K for the year ended December 31, 2024, as amended, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, as well as discussions of potential risks, uncertainties, and other important factors in Absci’s other filings with the SEC, including those contained or incorporated by reference in the preliminary prospectus supplement and accompanying prospectus related to the public offering filed with the SEC. In addition, any forward-looking statements contained in this press release represent Absci’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Absci explicitly disclaims any obligation to update any forward-looking statements, except as required by law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

Investor Contact
Alex Khan
VP, Finance & Investor Relations
investors@absci.com

Media Contact
press@absci.com

FAQ

What is the size and price of Absci's (ABSI) public offering in July 2025?

Absci is offering 16,670,000 shares of common stock at $3.00 per share, with potential gross proceeds of approximately $50 million before deductions.

How will Absci (ABSI) use the proceeds from its 2025 stock offering?

Absci will use the proceeds to fund internal program advancement, invest in its Integrated Drug Creation™ platform, and for working capital and general corporate purposes.

Who are the underwriters for Absci's (ABSI) July 2025 stock offering?

The joint book-running managers are Morgan Stanley, J.P. Morgan, Jefferies, and TD Cowen.

When will Absci's (ABSI) 2025 public offering close?

The offering is expected to close on or about July 25, 2025, subject to customary closing conditions.

What is the additional share purchase option in Absci's (ABSI) offering?

Underwriters have a 30-day option to purchase up to 2,500,500 additional shares on the same terms and conditions.