Exscientia prices $304.7 million upsized IPO

Oxford, UK-based Exscientia (Nasdaq: EXAI), which develops and licenses therapies designed with its artificial intelligence (AI) drug discovery platform, today announced the pricing of its upsized initial public offering (IPO) in the USA of 13,850,000 American Depositary Shares (ADSs) representing 13,850,000 ordinary shares at an initial public offering price of $22.00 per ADS, for total gross proceeds of around $304.7 million.

All ADSs sold in the offering were offered by Exscientia. The ADSs are expected to begin trading on the Nasdaq Global Select Market on October 1, 2021 under the ticker symbol “EXAI.” In addition, Exscientia has granted the underwriters a 30-day option to purchase up to an additional 2,077,500 ADSs at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on or about October 5, 2021, subject to customary closing conditions.

Further initial offering at $22.00 per ADS