Salt Lake Metropolis, June 26, 2024 (GLOBE NEWSWIRE) — Recursion Prescribed drugs, Inc. (Recursion) (NASDAQ: RXRX), a number one medical stage TechBio firm decoding biology to industrialize drug discovery, immediately introduced the pricing of its underwritten public providing of 30,769,230 shares of its Class A standard inventory at a value to the general public of $6.50 per share. The entire shares are to be bought by Recursion. As well as, Recursion has granted the underwriters a 30-day choice to buy as much as a further 4,615,384 shares of its Class A standard 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 predicted to shut on or about June 28, 2024, topic to satisfaction of customary closing circumstances.
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 Type S-3, which turned routinely efficient upon submitting with the U.S. Securities and Change 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 regarding the providing was filed on June 26, 2024. A closing prospectus complement and accompanying prospectus regarding the providing will even be filed with the SEC. These paperwork could be accessed without cost by the SEC’s web site at www.sec.gov. Alternatively, a replica of the ultimate prospectus complement and accompanying prospectus regarding this providing could also be obtained, when accessible, by contacting: Goldman Sachs & Co. LLC, Consideration: Prospectus Division, 200 West Avenue, New York, NY 10282, by phone at (866) 471-2526 or by electronic mail at [email protected] mail.gs.com; or J.P. Morgan Securities LLC, Consideration: Broadridge Monetary Options (NYSE:), 1155 Lengthy Island Avenue, Edgewood, NY 11717, or by electronic mail at [email protected] and [email protected].
This press launch 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 underneath the securities legal guidelines of that state or jurisdiction.
About Recursion
Recursion is a number one medical 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 subtle 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 huge experimental scale”as much as tens of millions of moist lab experiments weekly”and large computational scale”proudly owning and working one of the crucial highly effective supercomputers on the planet”Recursion is uniting know-how, 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-Wanting Statements
This press launch incorporates info that features or relies upon forward-looking statements inside the which means of the Personal Securities Litigation Reform Act of 1995, together with, with out limitation, statements concerning 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 info. Ahead-looking statements might or might not embody figuring out phrases similar to intend, plan, will, anticipate, anticipate, imagine, potential, proceed, and comparable phrases. These statements are topic to identified and unknown dangers and uncertainties that might trigger precise outcomes to vary materially from these expressed or implied in such statements, together with however not restricted to: prevailing market circumstances; the satisfaction of customary closing circumstances; common financial, trade or political circumstances; challenges inherent in pharmaceutical analysis and growth, together with the timing and outcomes of preclinical and medical applications, the place the danger of failure is excessive and failure can happen at any stage previous to or after regulatory approval attributable to lack of adequate efficacy, security concerns, or different elements; Recursion’s skill to leverage and improve its drug discovery platform; Recursion’s skill to acquire financing for growth actions and different company functions; the success of Recursion’s collaboration actions; Recursion’s skill to acquire regulatory approval of, and finally commercialize, drug candidates; Recursion’s skill to acquire, preserve, and implement mental property protections; cyberattacks or different disruptions to Recursion’s know-how methods; Recursion’s skill to draw, encourage, and retain key staff and handle its progress; inflation and different macroeconomic points; and different dangers and uncertainties similar to these described underneath the heading Danger Components within the preliminary prospectus complement and accompanying prospectus regarding the providing and in Recursion’s filings with the SEC, together with its most up-to-date Annual Report on Type 10-Ok and Quarterly Report on Type 10-Q. All forward-looking statements are based mostly on administration’s present estimates, projections, and assumptions, and Recursion undertakes no obligation to appropriate 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:
Media Contact:
Ryan KellyRecursion [email protected]
Supply: Recursion Prescribed drugs