The Life Sciences team advised AbCellera Biologics Inc. (Nasdaq: ABCL) on its initial public offering of 27,772,500 common shares at a price to the public of $20 per share, which includes the exercise in full of the underwriters’ option to purchase 3,622,500 additional common shares. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, were approximately $555.5 million. In addition, upon the closing of the offering, previously issued convertible promissory notes, with an aggregate principal amount of approximately $90 million, converted into 6,093,524 common shares at a price of $17 per share.
AbCellera is a technology company that searches, decodes, and analyzes natural immune systems to find antibodies that its partners can develop into drugs to prevent and treat disease. AbCellera partners with drug developers of all sizes, from large pharmaceutical to small biotechnology companies, empowering them to move quickly, reduce cost, and tackle the toughest problems in drug development.
The Goodwin team was led by Deepa Rich, Sam Zucker, James Xu, and Mitch Bloom and included Kim De Glossop. The team also included Crescent Chasteen, Grace Wirth, Jeremy Slotnick, Alex Varond, Sarah Wicks, Dan Karelitz, Kara Kuritz, Caroline Bullerjahn, and Ettore Santucci with paralegal assistance from Tricia Hojo and Ruowen Li.
For more details, read the press release.