Absci Corporation’s $200 Million Initial Public Offering

Goodwin Procter advised Absci, while Latham & Watkins represented the underwriters in the offering.

Absci Corporation (Absci), the synthetic biology company unlocking the potential of proteins as next-generation therapeutics, has announced the pricing of its initial public offering of 12,500,000 shares of common stock at a public offering price of US$16 per share. All of the shares of common stock are being offered by Absci. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Absci, are expected to be US$200 million, excluding any exercise of the underwriters’ option to purchase additional shares. Absci’s common stock began trading on the Nasdaq Global Select Market under the ticker symbol “ABSI.”

In addition, Absci has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, BofA Securities, Inc., Cowen and Company, LLC, and Stifel, Nicolaus & Company, Incorporated acted as underwriters for the offering.

Latham & Watkins LLP represented the underwriters in the offering with a capital markets deal team led by Bay Area partner Brian Cuneo (Picture) and Orange County partner Shayne Kennedy, with Bay Area associate Natalie Robertson. Advice was also provided on intellectual property matters by Bay Area partner Chris Hazuka, with Bay Area associates Peggy Ni and Stephanie Blij; on tax matters by Bay Area partner Grace Lee, with Bay Area associate Jessica Chen; on regulatory matters by Washington, D.C. partner Elizabeth Richards, with Washington, D.C. associate Chad Jennings; and on benefits and compensation matters by Bay Area partner Ashley Wagner.

The Goodwin team was led by Maggie Wong, Andrew Whitworth and Kingsley Taft and included Alicia Tschirhart, Amy Mills, Temesgen Woldezion, Laila Hosseini, Emily Wetmore, Flip Schmidt, Kevin Kabler,  Megan Gustafson, Shane Albright, Alexander Varond, Roger Cohen, Heath Ingram, Andrew Hess, Sarah Bock, Ariel Gaknoki, Daniel Karelitz, Brian Mukherjee and Brad Weber with invaluable assistance from James Matarese, Shira Borzak, Scott Zilora, Natasha Dimond and Tricia Hojo.

Involved fees earner: Shane Albright – Goodwin Procter; Sarah Bock – Goodwin Procter; Shira Borzak – Goodwin Procter; Roger Cohen – Goodwin Procter; Ariel Gaknoki – Goodwin Procter; Megan Gustafson – Goodwin Procter; Andrew Hess – Goodwin Procter; Heath Ingram – Goodwin Procter; Kevin Kabler – Goodwin Procter; Daniel Karelitz – Goodwin Procter; James Matarese – Goodwin Procter; Amy Mills – Goodwin Procter; Lia Schmidt – Goodwin Procter; Kingsley Taft – Goodwin Procter; Alicia Tschirhart – Goodwin Procter; Alexander Varond – Goodwin Procter; Bradley Weber – Goodwin Procter; Andrew Whitworth – Goodwin Procter; Maggie Wong – Goodwin Procter; Scott Zilora – Goodwin Procter; Stephanie Blij – Latham & Watkins; Jessica Chen – Latham & Watkins; Brian Cuneo – Latham & Watkins; Christopher Hazuka – Latham & Watkins; Chad Jennings – Latham & Watkins; Shayne Kennedy – Latham & Watkins; Grace Lee – Latham & Watkins; Peggy Ni – Latham & Watkins; Elizabeth Richards – Latham & Watkins; Natalie Robertson – Latham & Watkins; Ashley Wagner – Latham & Watkins;

Law Firms: Goodwin Procter; Latham & Watkins;

Clients: AbSci; Bank of America Securities; Cowen and Company; Credit Suisse Securities (USA) LLC; J.P. Morgan Securities LLC; Stifel, Nicolaus & Company, Incorporated;

Martina Bellini

Author: Martina Bellini