Spin-off - Twist Bioscience Corp

Form Type: 8-K

Filing Date: 2025-05-05

Corporate Action: Spin-off

Type: New

Accession Number: 000110465925044352

Filing Summary: On May 2, 2025, Twist Bioscience Corporation executed a Contribution Agreement with Atlas Data Storage, Inc., resulting in a total investment of approximately $155 million. The agreement involved the sale of Twist’s DNA data storage product group, including intellectual property rights and related assets to Atlas. Twist received $2.5 million in cash and shares representing 24% of Atlas's capital stock, along with potential future payments up to $75 million and royalties on products. In addition, licenses were granted for intellectual property improvements to be used by Twist in retained product groups, and an MES Software License Agreement was signed. A press release on May 5, 2025, announced these details, along with financial results for the quarter ending March 31, 2025, and described Twist’s strategy to spin out the DNA Data Storage business as an independent entity, enhancing operational focus and innovation.