ABSI - Why Absci (ABSI) Shares Are Falling | Benzinga

Absci Corp (NASDAQ:ABSI) shares are trading lower by 9.4% to $4.46 Wednesday afternoon after the company announced an offering of 16.7 million shares at $4.50 per share.

The underwriters have an option to purchase an additional 2.505 million shares. The gross proceeds from the offering are expected to be approximately $75.2 million. Absci plans to utilize the net proceeds for the development of its internal asset programs, investment in its Integrated Drug Creation™ platform, including AI and wet-lab technologies and for general corporate purposes.

Morgan Stanley and TD Cowen are serving as joint book-running managers for the offering, which is anticipated to close around March 1, subject to customary closing conditions.

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