The cancer drug developer has closed its initial public offering after underwriters exercised the greenshoe option.

Exscientia, a UK-based drug discovery technology developer spun out of University of Dundee, closed its initial public offering at just over $350m on Tuesday.

The spinout floated in an upsized IPO last week, issuing more than 13.8 million shares priced at $22. Telecoms and internet group SoftBank’s Vision Fund 2 and Bill and Melinda Gates Foundation added $160m in a private placement.

Joint book-running managers Goldman Sachs, Morgan Stanley, BofA Securities and Barclays Capital subsequently took up the option…

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