Absci prices $75.2M public offering of 16.7M shares at $4.50; net proceeds $70.2M

Absci Corp

Offering of 16.7M shares at $4.50/share; gross proceeds ~$75.2M; net proceeds ~$70.2M.
Underwriters granted 30-day option to purchase up to 2.505M additional shares.
Net proceeds to fund internal asset programs, Integrated Drug Creation platform, AI/wet-lab tech, and working capital.
Cash runway extended into first half of 2027; offering expected to close March 1, 2024.
Joint book-running managers: Morgan Stanley and TD Cowen.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Absci Corp entered into Underwriting Agreement with Morgan Stanley & Co. LLC and Cowen & Company, LLC valued at public offering price of $4.50 per share (effective 2024-02-27).

Action: entry
Agreement: underwriting
Counterparty: Morgan Stanley & Co. LLC and Cowen & Company, LLC
Value: public offering price of $4.50 per share
Effective: 2024-02-27

Exact text from the filing

On February 27, 2024, Absci Corporation (the “ Company ”) entered into an underwriting agreement (the “ Underwriting Agreement ”) with Morgan Stanley & Co. LLC and Cowen & Company, LLC (the “ Underwriters ”), relating to the issuance and sale of an aggregate of 16,700,000 shares (the “ Underwritten Shares ”) of the Company’s common stock

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754 material agreements filed in the last 30 days. Browse all material agreements →

Absci Corp filing history →

Source: SEC EDGAR

accession 0001193125-24-050659

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