Berkeley Lights Announces Pricing of Initial Public Offering

Rhea-AI Summary

Berkeley Lights has priced its initial public offering at $22.00 per share, offering 8,100,000 shares, with a potential additional 1,215,000 shares available to underwriters. The gross proceeds are expected to be approximately $178.2 million. Trading on the Nasdaq under the ticker symbol BLI is set to commence on July 17, 2020, with the offering closing on July 21, 2020. J.P. Morgan, Morgan Stanley, and Cowen are the lead managers for this offering.

Positive

• Initial public offering priced at $22.00 per share, with gross proceeds expected to be $178.2 million.
• Potential for additional shares (1,215,000) to be purchased by underwriters, indicating strong interest.

Negative

• Offering could lead to dilution for existing shareholders if the underwriters exercise their option for additional shares.

EMERYVILLE, Calif., July 16, 2020 (GLOBE NEWSWIRE) -- Berkeley Lights, Inc., a leader in Digital Cell Biology, today announced the pricing of its initial public offering of 8,100,000 shares of common stock at a public offering price of $22.00 per share. All of the shares of common stock are being offered by Berkeley Lights. In addition, Berkeley Lights has granted the underwriters a 30-day option to purchase up to an additional 1,215,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Berkeley Lights’ common stock is expected to begin trading on the Nasdaq Global Select Market on July 17, 2020, under the ticker symbol “BLI.” The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Berkeley Lights, are expected to be approximately $178.2 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on July 21, 2020, subject to the satisfaction of customary closing conditions.

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

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. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, 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.

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 is the pricing of Berkeley Lights' IPO?

Berkeley Lights has priced its IPO at $22.00 per share.

How many shares are being offered in the Berkeley Lights IPO?

A total of 8,100,000 shares are being offered, with an option for 1,215,000 additional shares.

When will Berkeley Lights start trading on Nasdaq?

Berkeley Lights is expected to begin trading on Nasdaq under the ticker symbol BLI on July 17, 2020.

What are the expected gross proceeds from the IPO?

The expected gross proceeds from the offering are approximately $178.2 million.