Latham & Watkins Advises the Underwriters in Absci Corporation’s IPO

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 is expected to begin trading on the Nasdaq Global Select Market on July 22, 2021, under the ticker symbol ABSI. The offering is expected to close on July 26, 2021, subject to the satisfaction of customary closing conditions. 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.

Latham & Watkins LLP represents the underwriters in the offering with a capital markets deal team led by Bay Area partner Brian Cuneo 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.