An initial public offering (IPO) refers to the process of offering shares of a private corporation to the public in a new stock issuance. An IPO allows a company to raise capital from public investors.
Berkeley Lights, Inc., a leader in Digital Cell Biology, has 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.
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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 began 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.
Latham represents Berkeley Lights, Inc. in the offering with a life sciences capital markets team led by Bay Area partner Brian Cuneo with Bay Area associates Alexander White, Meredith Peake, Raul Gonzalez, Theresa Bloom and Amanda Dillon.
Advice was also provided on tax matters by Bay Area partner Grace Lee, with Bay Area associate Abigail Friedman; on benefits and compensation matters by Bay Area partner Ashley Wagner; on intellectual property matters by Bay Area partner Judith Hasko, with Bay Area associate Gavin Liu; and on regulatory matters by Washington, D.C. partner Elizabeth Richards and Bay Area counsel Betty Pang, with Washington, D.C. associate Chad Jennings.