Exscientia: $304.7M Upsized IPO Priced + $160M Concurrent Private Placements

 Exscientia plc (Nasdaq: EXAI), an AI-driven pharmatech company committed to discovering, designing and developing the best possible drugs in the fastest and most effective manner, today announced the pricing of its upsized initial public offering in the United States of 13,850,000 American Depositary Shares (“ADSs”) representing 13,850,000 ordinary shares at an initial public offering price of $22.00 per ADS, for total gross proceeds of approximately $304.7 million. All ADSs sold in the offering were offered by Exscientia. The ADSs are expected to begin trading on the Nasdaq Global Select Market on October 1, 2021 under the ticker symbol “EXAI.” In addition, Exscientia has granted the underwriters a 30-day option to purchase up to an additional 2,077,500 ADSs at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on or about October 5, 2021, subject to customary closing conditions.

In addition to the ADSs sold in the public offering, the Company announced the concurrent sale of an additional 7,272,727 ADSs at the initial offering price of $22.00 per ADS, for gross proceeds of $160.0 million, in private placements to SVF II Excel (DE) LLC, or Softbank, and the Bill & Melinda Gates Foundation. The sale of these ADSs will not be registered under the Securities Act of 1933, as amended, and will be subject to a 180-day lock-up agreement.

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, BofA Securities and Barclays Capital Inc. are acting as joint book-running managers for the offering.

https://www.biospace.com/article/releases/exscientia-announces-pricing-of-304-7-million-upsized-initial-public-offering-and-160-0-million-concurrent-private-placements/