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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________________________________
FORM 8-K
__________________________________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 28, 2023
__________________________________________
AbCellera Biologics Inc.
(Exact name of registrant as specified in its charter)
__________________________________________
British Columbia001-39781Not Applicable
(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification Number)
2215 Yukon Street
Vancouver, BC
V5Y 0A1
(Address of registrant’s principal executive office)(Zip code)
(604) 559-9005
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
__________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol(s)Name of each exchange on which registered
Common sharesABCLThe Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company  o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  o


Item 8.01    Other Events.

On November 28, 2023, AbCellera Biologics, Inc. (the “Company”) announced a reorganization and associated reduction in its workforce to better focus its efforts towards the clinical development of new antibody medicines for patients.

The reorganization is consistent with long-term plans to prioritize strategic partnerships and internal drug development, and to increase operational efficiency across the business. The workforce reduction impacts approximately ten (10) percent of the Company’s workforce. The Company estimates that it will incur approximately US$2.5 million in cash expense in connection with the workforce reduction.

With over US$1 billion in available liquidity, AbCellera has sufficient capital to execute on its strategy beyond the next 3 years.

This Item 8.01 contains "forward-looking" statements and estimates, including estimated restructuring costs. These statements are subject to a number of risks and uncertainties that could cause actual results to differ materially, including whether anticipated cost reductions will be achieved and other risks detailed in the “Risk Factors” section of our most recent periodic report filed with the SEC. These statements represent our estimates and assumptions only as of the date of this Current Report. We do not undertake any obligation to update publicly any such forward-looking statements, even if new information becomes available.



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 28, 2023ABCELLERA BIOLOGICS INC.
 
By:/s/ Carl L. G. Hansen
Carl L. G. Hansen, Ph.D.
Chief Executive Officer and Director
(Principal Executive Officer)

v3.23.3
Cover
Nov. 28, 2023
Cover [Abstract]  
Document Type 8-K
Entity Registrant Name AbCellera Biologics Inc.
Document Period End Date Nov. 28, 2023
Entity Incorporation, State or Country Code A1
Entity File Number 001-39781
Entity Address, Postal Zip Code V5Y 0A1
Entity Central Index Key 0001703057
Amendment Flag false
Entity Address, Address Line One 2215 Yukon StreetVancouver, BC
Entity Address, City or Town Vancouver
Entity Address, State or Province BC
City Area Code (604)
Local Phone Number 559-9005
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common shares
Trading Symbol ABCL
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
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