Salt Lake Metropolis, June 26, 2024 (GLOBE NEWSWIRE) — Recursion Prescribed drugs, Inc. (Recursion) (NASDAQ: RXRX), a number one scientific stage TechBio firm decoding biology to industrialize drug discovery, at the moment introduced the pricing of its underwritten public providing of 30,769,230 shares of its Class A typical inventory at a price to the general public of $6.50 per share. All the shares are to be offered by Recursion. As well as, Recursion has granted the underwriters a 30-day choice to buy up to a further 4,615,384 shares of its Class A typical inventory. Earlier than deducting the underwriting reductions and commissions and estimated providing bills, Recursion expects to obtain complete gross proceeds of roughly $200 million, assuming no train of the underwriters’ choice to buy extra shares. The providing is anticipated to shut on or about June 28, 2024, topic to satisfaction of customary closing situations.
Goldman Sachs & Co. LLC and J.P. Morgan are appearing as lead book-running managers for the providing. Allen & Firm LLC is appearing as book-running supervisor for the providing.
The shares are being provided by Recursion pursuant to a registration assertion on Kind S-3, which turned routinely efficient upon submitting with the U.S. Securities and Alternate Fee (SEC) on Might 10, 2022. The providing is being made solely by the use of a written prospectus and a prospectus complement that kind part of the registration assertion. A replica of the preliminary prospectus complement and accompanying prospectus referring to the providing was filed on June 26, 2024. A closing prospectus complement and accompanying prospectus referring to the providing may also be filed with the SEC. These paperwork will be accessed at no cost by way of the SEC’s web site at www.sec.gov. Alternatively, a replica of the ultimate prospectus complement and accompanying prospectus referring to this providing could also be obtained, when out there, by contacting: Goldman Sachs & Co. LLC, Consideration: Prospectus Division, 200 West Avenue, New York, NY 10282, by phone at (866) 471-2526 or by e-mail at prospectus-ny@ny.e-mail.gs.com; or J.P. Morgan Securities LLC, Consideration: Broadridge Monetary Options (NYSE:), 1155 Lengthy Island Avenue, Edgewood, NY 11717, or by e-mail at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com.
This press release doesn’t represent a suggestion to promote or a solicitation of a suggestion to purchase, nor will there be any sale of those securities in any state or different jurisdiction during which such provide, solicitation, or sale could be illegal earlier than registration or qualification beneath the securities legal guidelines of that state or jurisdiction.
About Recursion
Recursion is a number one scientific stage TechBio firm decoding biology to industrialize drug discovery. Central to its mission is the Recursion Working System (OS), a platform constructed throughout various applied sciences that repeatedly expands one of many world’s largest proprietary organic, chemical and patient-centric datasets. Recursion leverages refined machine-learning algorithms to distill from its dataset a set of trillions of searchable relationships throughout biology and chemistry unconstrained by human bias. By commanding large experimental scale”up to thousands and thousands of moist lab experiments weekly”and large computational scale”proudly owning and working one of the highly effective supercomputers on the planet”Recursion is uniting expertise, biology, chemistry and patient-centric knowledge to advance the way forward for medication.
Recursion is headquartered in Salt Lake Metropolis, the place it’s a founding member of BioHive, the Utah life sciences trade collective. Recursion additionally has places of work in Toronto, Montreal, the San Francisco Bay Space and London.
Ahead-Trying Statements
This press release incorporates info that features or relies upon forward-looking statements inside the that means of the Non-public Securities Litigation Reform Act of 1995, together with, with out limitation, statements relating to the anticipated completion and timing of closing of the providing, the anticipated complete gross proceeds from the providing and all different statements that aren’t statements of historic information. Ahead-looking statements might or might not embody figuring out phrases resembling intend, plan, will, count on, anticipate, imagine, potential, proceed, and comparable phrases. These statements are topic to identified and unknown dangers and uncertainties that would trigger precise outcomes to vary materially from these expressed or implied in such statements, together with however not restricted to: prevailing market situations; the satisfaction of customary closing situations; basic financial, trade or political situations; challenges inherent in pharmaceutical research and improvement, together with the timing and outcomes of preclinical and scientific applications, the place the chance of failure is excessive and failure can happen at any stage previous to or after regulatory approval attributable to lack of ample efficacy, security issues, or different components; Recursion’s means to leverage and improve its drug discovery platform; Recursion’s means to acquire financing for improvement actions and different company functions; the success of Recursion’s collaboration actions; Recursion’s means to acquire regulatory approval of, and in the end commercialize, drug candidates; Recursion’s means to acquire, keep, and implement mental property protections; cyberattacks or different disruptions to Recursion’s expertise programs; Recursion’s means to draw, inspire, and retain key staff and handle its development; inflation and different macroeconomic points; and different dangers and uncertainties resembling these described beneath the heading Danger Elements within the preliminary prospectus complement and accompanying prospectus referring to the providing and in Recursion’s filings with the SEC, together with its most up-to-date Annual Report on Kind 10-Ok and Quarterly Report on Kind 10-Q. All forward-looking statements are based mostly on administration’s present estimates, projections, and assumptions, and Recursion undertakes no obligation to right or replace any such statements, whether or not on account of new info, future developments, or in any other case, besides to the extent required by relevant legislation.
Investor Contact:
investor@recursion.com
Media Contact:
media@recursion.com
Ryan KellyRecursion Pharmaceuticalsmedia@recursion.com
Supply: Recursion Prescribed drugs