Twist Bioscience, which manufactures synthetic genes and other DNA-based products, announced terms for its IPO on Wednesday.
The San Francisco, CA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. Insiders intend to purchase up to $30 million of the IPO (40% of the deal). At the midpoint of the proposed range, Twist Bioscience would command a fully diluted market value of $418 million.
Twist Bioscience was founded in 2013 and plans to list on the Nasdaq under the symbol TWST. J.P. Morgan and Cowen are the joint bookrunners on the deal. It is expected to price during the week of October 29, 2018.
