Berkeley Lights Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Berkeley Lights has successfully closed its initial public offering of 9,315,000 shares of common stock, raising approximately $204.9 million at a price of $22.00 per share. This includes the full exercise of an option for an additional 1,215,000 shares by underwriters. Trading of its common stock commenced on the Nasdaq under the ticker symbol BLI on July 17, 2020. The offering was managed by J.P. Morgan, Morgan Stanley, and Cowen, with a registration statement declared effective by the SEC on July 16, 2020.

Positive

• Raised approximately $204.9 million from the IPO.
• Shares began trading on Nasdaq under the symbol 'BLI'.
• Strengthened capital position to enhance future growth.

Negative

• None.

EMERYVILLE, Calif., July 21, 2020 (GLOBE NEWSWIRE) -- Berkeley Lights, Inc., (Nasdaq: BLI) a leader in Digital Cell Biology, today announced the closing of its initial public offering of 9,315,000 shares of common stock, including the exercise in full by the underwriters of their option to purchase up to an additional 1,215,000 shares of common stock, at a public offering price of $22.00 per share. The gross proceeds from the offering were approximately $204.9 million, before deducting underwriting discounts, commissions and other offering expenses payable by Berkeley Lights. Shares of Berkeley Lights’ common stock began trading on the Nasdaq Global Select Market on July 17, 2020 under the ticker symbol “BLI”.  All shares in the offering were offered by Berkeley Lights.

J.P. Morgan, Morgan Stanley and Cowen acted as lead book-running managers for the offering. William Blair acted as a co-manager.

The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone: +1 (866) 803-9204, or by emailing prospectus-eq_fi@jpmchase.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; and Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone: +1 (833) 297-2926, or by emailing PostSaleManualRequests@broadridge.com.

A registration statement relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on July 16, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Berkeley Lights

Berkeley Lights is a leading Digital Cell Biology company focused on enabling and accelerating the rapid development and commercialization of biotherapeutics and other cell-based products for our customers. The Berkeley Lights Platform captures deep phenotypic, functional and genotypic information for thousands of single cells in parallel and can also deliver the live biology customers desire in the form of the best cells. Our platform is a fully integrated, end-to-end solution, comprising proprietary consumables, including our OptoSelect chips and reagent kits, advanced automation systems, and application software. We developed the Berkeley Lights Platform to provide the most advanced environment for rapid functional characterization of single cells at scale, the goal of which is to establish an industry standard for our customers throughout their cell-based product value chain.

Berkeley Lights’ Beacon and Lightning systems and Culture Station instrument are for research use only. Not for use in diagnostic procedures.

Press Contact

berkeleylights@bulleitgroup.com

Investor Contact

ir@berkeleylights.com

FAQ

What was the offering price for Berkeley Lights (BLI) shares?

The offering price for Berkeley Lights shares was $22.00 per share.

How many shares were sold in Berkeley Lights' IPO?

Berkeley Lights sold a total of 9,315,000 shares in its IPO.

What were the gross proceeds from Berkeley Lights' IPO?

The gross proceeds from the IPO were approximately $204.9 million.

When did Berkeley Lights start trading on Nasdaq?

Berkeley Lights began trading on Nasdaq on July 17, 2020.

Who managed the Berkeley Lights IPO?

The IPO was managed by J.P. Morgan, Morgan Stanley, and Cowen.