The Life Sciences team advised the underwriters of Rapid Micro Biosystems’ upsized initial public offering of 7,920,000 shares of Class A common stock at a public offering price of $20 per share. The gross proceeds of the offering were $158.4 million, before deducting underwriting commissions and estimated offering expenses. The shares began trading on the Nasdaq Global Select Market on July 15, 2021 under the ticker symbol “RPID.” The company has also granted the underwriters a 30-day option to purchase up to 1,188,000 additional shares of Class A common stock.
Headquartered in Lowell, MA, Rapid Micro Biosystems is a life sciences technology company providing automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products. The company’s Growth Direct platform provides the only fully automated, high-throughput and secure MQC solution that detects contamination more quickly, delivering compelling economic benefits while preventing quality control errors. For more information, please visit.
The Goodwin team was led by Mitchell Bloom and Edwin O’Connor and included Humza Bokhari, Amanda Rae Schwarzenbart, Larissa Pinho, Isabel Tule and summer associate Tianli Song with additional assistance from Duncan Greenhalgh, Martin Gomez, Gozde Guckaya, Jackie Klosek, Alexander Varond, Elizabeth Mulkey, Roger Cohen, Heath Roosevelt Ingram, Andrew Hess, Jacob Osborn, Justin Pierce, Gozde Guckaya, Daniel Karelitz, Peter LaVigne and Brad Weber.
For additional details on the offering, please read the pricing press release.