AbCellera Biologics Inc. closed its IPO, raising gross proceeds of about $555.5 million.
The company sold 27,772,500 common shares at $20 apiece. Included in the total share count are 3,622,500 shares sold as part of the underwriters' full exercise of their overallotment option.
Additionally, upon the closing of the offer, about $90 million in previously issued convertible promissory notes were converted into 6,093,524 common shares at a price of $17 each.
Credit Suisse, Stifel, Berenberg, SVB Leerink and BMO Capital Markets acted as joint bookrunning managers for the IPO.
Vancouver, British Columbia-based biotechnology company AbCellera develops an antibody discovery platform for use in drug development.