Codex DNA Announces Pricing of Initial Public Offering

Rhea-AI Summary

Codex DNA has announced the pricing of its initial public offering (IPO) on June 17, 2021, offering 6,666,665 shares at $16.00 each, aiming for gross proceeds of approximately $106.7 million. The shares will be traded on the Nasdaq Global Select Market under the ticker symbol DNAY. The offering is expected to close on June 22, 2021, pending customary closing conditions. Additionally, underwriters have a 30-day option to purchase up to 999,999 shares at the offering price.

Positive

• IPO proceeds of approximately $106.7 million to support business growth.
• Broad market access with shares listed on Nasdaq under the ticker DNAY.

Negative

• Potential dilution risk for existing shareholders due to the new share issuance.

SAN DIEGO, June 17, 2021 (GLOBE NEWSWIRE) -- Codex DNA, Inc. (“Codex DNA”), creators of the BioXp™ system, a fully automated benchtop instrument that enables numerous synthetic biology workflows, today announced the pricing of its initial public offering of 6,666,665 shares of its common stock at a public offering price of $16.00 per share. All of the shares are being offered by Codex DNA. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Codex DNA, are expected to be $106.7 million. The shares are expected to begin trading on the Nasdaq Global Select Market on June 18, 2021, under the ticker symbol “DNAY.” The offering is expected to close on June 22, 2021, subject to the satisfaction of customary closing conditions. In addition, Codex DNA has granted the underwriters a 30-day option to purchase up to an additional 999,999 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. 

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 became effective on June 17, 2021. The offering will be made only by means of a prospectus, copies of which 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. Copies of the final prospectus, when available, related to the offering will be available at www.sec.gov.

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.

FAQ

What is the IPO price of Codex DNA's shares?

Codex DNA's shares are priced at $16.00 each.

When will Codex DNA's shares start trading?

Shares are expected to begin trading on June 18, 2021.

What is the ticker symbol for Codex DNA?

The ticker symbol for Codex DNA is DNAY.

How much money is Codex DNA aiming to raise through the IPO?

Codex DNA aims to raise approximately $106.7 million through the IPO.

What is the purpose of Codex DNA's IPO?

The proceeds from the IPO are intended to support business growth and development.