Exscientia Upsized IPO, Private Placements Priced at Top of Views

By Colin Kellaher

Exscientia PLC said its upsized initial public offering of 13.85 million American depositary shares was priced at $22 apiece, at the top of the expected range.

The Oxford, U.K., clinical-stage pharmatech company had previously said it planned to sell nearly 13.1 million ADSs at between $20 and $22 each in the IPO.

Exscientia said it expects gross proceeds of about $304.7 million, plus an additional $160 million from concurrent private placements of roughly 7.27 million ADSs at the IPO price with an affiliate of SoftBank Group Corp. and the Bill & Melinda Gates Foundation.

Exscientia said it granted the underwriters a 30-day option to buy up to an additional 2.08 million ADSs.

Exscientia ADSs are due to begin trading Friday under the symbol EXAI.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

10-01-21 0652ET