AbCellera Biologics Inc. (ABCL) Prices 24.150M Share IPO at $20/Sh

AbCellera Biologics Inc. (NASDAQ: ABCL), a technology company that aims to become the centralized operating system for next-generation antibody discovery, today announced the pricing of its initial public offering of 24,150,000 common shares at a price to the public of $20.00 per share. All of the common shares are being offered by AbCellera. In addition, AbCellera has granted the underwriters a 30-day option to purchase up to 3,622,500 additional common shares at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on The Nasdaq Global Select Market on December 11, 2020 under the ticker symbol “ABCL.” The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be $483.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on December 15, 2020, subject to satisfaction of customary closing conditions.

Credit Suisse, Stifel, Berenberg, SVB Leerink and BMO Capital Markets are acting as joint book-running managers for the offering.

As previously announced in November 2020, in connection with its acquisition of Trianni, Inc., AbCellera issued convertible promissory notes to certain investors in an aggregate amount of approximately $90.0 million (the “Notes”). Upon the closing of the offering, the Notes will convert into common shares at a price of $17.00 per share, which is 85% of the initial public offering price.

A registration statement on Form S-1 relating to the common shares sold in the initial public offering has been filed with the Securities and Exchange Commission and became effective on December 10, 2020.

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