Press Release October 07, 2021

Capital Markets Team Advises Underwriters of Exscientia’s $350.4 Million IPO and $160 Million Concurrent Private Placements

The Life Sciences IPOs & Capital Markets team advised Goldman Sachs & Co. LLC and the other underwriters of Exscientia plc’s (Nasdaq: EXAI) upsized initial public offering in the United States of 15,927,500 American Depositary Shares (“ADSs”) representing 15,927,500 ordinary shares, including 2,077,500 ADSs sold pursuant to the full exercise of the underwriters’ previously granted option to purchase additional ADSs. All ADSs sold in the offering were offered by Exscientia at a public offering price of $22 per ADS. The total gross proceeds to Exscientia from the offering were approximately $350.4 million, prior to deducting underwriting discounts and commissions and estimated offering expenses payable by Exscientia. The offering was upsized from the number of shares offered at launch and priced at the top of the price range indicated at launch.

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 per ADS, for gross proceeds of $160 million, in private placements.

Exscientia is an AI-driven pharmatech company committed to discovering, designing, and developing the best possible drugs in the fastest and most effective manner. Exscientia developed the first-ever functional precision oncology platform to successfully guide treatment selection and improve patient outcomes in a prospective interventional clinical study, as well as to progress AI-designed small molecules into the clinical setting.

The Goodwin team was led by Robert Puopolo, Seo Salimi, Will Magioncalda, Ki Hoon Kim, Amanda Rae Schwarzenbart, and Sean Cheatle (US Corporate), and Andrew Harrow and Bryce McCullagh (UK Corporate); and included Stephanie Philbin and Sarah Wicks (FDA/Regulatory); Olivia Uitto (IP); Roger Cohen and Andrew Hess (Healthcare); Daniel Karelitz and Leon Peschel (Tax); Robert Young and Asta Evans (UK tax); and Ettore Santucci (Opinions).

For more details, read the press release and articles in Endpoints, MedCity News, and Fierce Biotech.