Codex DNA Announces Closing of Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
Rhea-AI Summary
Codex DNA, Inc. (Nasdaq: DNAY) successfully closed its initial public offering of 7,666,664 shares at $16.00 per share, raising approximately $122.7 million in gross proceeds. This offering included the exercise of underwriters’ option for an additional 999,999 shares. Trading on Nasdaq began on June 18, 2021. The funds from this offering will support Codex DNA's synthetic biology initiatives, particularly its BioXp™ system which simplifies and accelerates the DNA and mRNA construction process.
AI-generated analysis. Not financial advice.
Positive
- Raised approximately $122.7 million in gross proceeds from the IPO.
- The offering included the full exercise of underwriters' option for 999,999 shares, indicating strong market demand.
- Funds will support the development of Codex DNA's BioXp™ system, enhancing synthetic biology capabilities.
Negative
- None.
News Market Reaction – DNAY
On the day this news was published, DNAY declined 1.03%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN DIEGO, June 22, 2021 (GLOBE NEWSWIRE) -- Codex DNA, Inc. (Nasdaq: DNAY) today announced the closing of its initial public offering of 7,666,664 shares of common stock, including the full exercise of the underwriters’ option to purchase up to 999,999 additional shares of common stock, at a public offering price of
Codex DNA’s common stock began trading on The Nasdaq Global Select Market on June 18, 2021 under the ticker symbol "DNAY."
Jefferies LLC, Cowen and Company, LLC and KeyBanc Capital Markets Inc. are acting as joint book-running managers for the proposed offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on June 17, 2021. The offering was made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by e-mail at Prospectus_Department@Jefferies.com; or by telephone at (877) 821-7388; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attention: Prospectus Department, or by e-mail at PostSaleManualRequests@broadridge.com; or by telephone at (833) 297-2926; KeyBanc Capital Markets Inc., Attention: Equity Syndicate, 127 Public Square, 4th Floor, Cleveland, Ohio 44114, or by telephone at (800) 859-1783.
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 Codex DNA
Codex DNA is a synthetic biology company focused on enabling researchers to rapidly, accurately and reproducibly build or “write” high-quality synthetic DNA and mRNA that is ready to use in many downstream synthetic biology enabled markets. Codex DNA’s synthetic biology solution addresses the bottlenecks across the multi-step process of building DNA and mRNA, as well as the significant limitations of existing solutions that prevent the rapid building of virtually error-free DNA and mRNA at a useable scale. A key part of Codex DNA’s solution is the BioXp™ system, an end-to-end automated workstation that fits on the benchtop and is broadly accessible due to its ease-of-use and hands-free automation. Codex DNA believes the BioXp™ system can democratize synthetic biology by simplifying the process of building DNA and mRNA, thereby accelerating the discovery, development and production of novel high-value products, including antibody-based biologics, mRNA-based vaccines and therapeutics and precision medicines.