SoftBank invested $125m through a $160m private placement as portfolio company and cancer drug developer Exscientia went public in an offering sized at nearly $305m.
UK-based drug discovery platform developer Exscientia floated on the Nasdaq Global Select Market on Friday in an initial public offering sized at almost $305m, representing an exit for several corporate investors.
The company issued more than 13.8 million shares priced at $22 each, increased from almost 13.1 million and at the top of the IPO’s $20 to $22 range. Its shares closed at $27.10 on Friday, equating to a market capitalisation of more than $3.2bn.
Telecommunications and internet conglomerate…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
