Absci Corporation announced the pricing of an underwritten public offering of 13,495,277 shares of its common stock at $7.41 per share. The company expects to raise approximately $100 million in gross proceeds to advance its clinical pipeline.
Key Details
- Offering Size: 13,495,277 shares of common stock at a price of $7.41 per share, for total gross proceeds of approximately $100 million.
- Net Proceeds: The company estimates net proceeds will be approximately $93.5 million after deducting underwriting discounts and other expenses.
- Use of Proceeds: Funds are intended to advance ABS-201, the company's AI-designed antibody candidate, for androgenetic alopecia (pattern hair loss) and endometriosis, as well as for general corporate purposes.
- Key Participants: The offering includes participation from strategic investor Eli Lilly & Company alongside other financial institutions.
- Timeline: The offering is expected to close on or about June 25, 2026.