Latham & Watkins Advises on Absci’s Public Offering of Common Stock

Absci Corporation (Nasdaq: ABSI) (Absci), a data-first generative AI drug creation company, has announced the pricing of an underwritten public offering of 16,700,000 shares of its common stock at a public offering price of US$4.50 per share, before deducting underwriting discounts and commissions. In addition, Absci has granted the underwriters a 30-day option to purchase up to an additional 2,505,000 shares of its common stock on the same terms and conditions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately US$75.2 million, excluding any exercise of the underwriters' option to purchase additional shares. All of the shares in the offering are to be sold by Absci.

Morgan Stanley and TD Cowen are acting as joint book-running managers for the offering. The offering is expected to close on or about March 1, 2024, subject to the satisfaction of customary closing conditions.

Latham & Watkins is advising Morgan Stanley and TD Cowen in the offering, with a capital markets team led by Bay Area/Orange County partner Shayne Kennedy and Bay Area partner Phillip Stoup, with associates Eric Hanzich, Natalie Robertson, Edwin Gonzalez, and Cameron Koob. Advice was also provided on IP matters by Bay Area partner Christopher Hazuka, with associates Robert Yeh and Xiaohan (Billy) Wu; on tax matters by Bay Area partner Grace Lee, with associate Rasha Suleiman; on regulatory matters by Washington, D.C. partner Elizabeth Richards and counsel Chad Jennings; on compensation and benefits matters by Bay Area partner Ashley Wagner; and on data privacy matters with Bay Area partner Heather Deixler, with associate Mitch Bennett.*

*Admitted to practice in New South Wales (Australia) only.