(RTTNews) - Absci Corporation (ABSI), a clinical-stage biopharma company leveraging generative AI for drug discovery, has priced an underwritten public offering of 16.67 million shares of its common stock at $3.00 per share.
The offering is expected to generate approximately $50 million in gross proceeds, excluding any additional funds from the underwriters' 30-day option to purchase up to 2.5 million more shares on the same terms.
All shares in the offering will be sold by Absci. Net proceeds will support the company's internal pipeline, further development of its Integrated Drug Creation platform, and general corporate purposes.
The offering is expected to close around July 25, 2025, pending customary conditions.
ABSI currently trades at $2.855 or 18.6610% lower on the NasdaqGS.
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