Absci Announces Proposed Public Offering of Common Stock

VANCOUVER, Wash., Feb. 27, 2024 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI) (“Absci”), a data-first generative AI drug creation company, announced today that it has commenced an underwritten public offering of $75.0 million of shares of its common stock. Absci also intends to grant the underwriters a 30-day option to purchase up to an additional $11.25 million of shares of its common stock. All of the shares in the proposed offering are to be sold by Absci.

Absci intends to use the net proceeds from the offering to fund the development of its internal asset programs, continued investment in its Integrated Drug Creation platform, including related AI and wet-lab technologies, and for working capital and other general corporate purposes.

Morgan Stanley and TD Cowen are acting as joint book-running managers for the proposed offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the proposed offering.

The shares of common stock are being offered by Absci pursuant to an effective shelf registration statement on Form S-3 (File No. 333-267043) that was previously filed with the U.S. Securities and Exchange Commission (SEC) on August 24, 2022 and became effective on September 2, 2022. The offering is being made only by means of a prospectus supplement and the accompanying prospectus that will form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and may be obtained, when available, from Morgan Stanley & Co LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by telephone: [phone], or by email at [e-mail]; Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022, by telephone at [phone] or by email at [e-mail]; or by accessing the SEC’s website at www.sec.gov. The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC.