Recursion Announces Pricing of $200 Million Public Offering of Class A Common Stock
27 Juni 2024 - 4:07AM
Recursion Pharmaceuticals, Inc. (“Recursion”) (NASDAQ: RXRX), a
leading clinical stage TechBio company decoding biology to
industrialize drug discovery, today announced the pricing of its
underwritten public offering of 30,769,230 shares of its Class A
common stock at a price to the public of $6.50 per share. All of
the shares are to be sold by Recursion. In addition, Recursion has
granted the underwriters a 30-day option to purchase up to an
additional 4,615,384 shares of its Class A common stock.
Before deducting the underwriting discounts and commissions and
estimated offering expenses, Recursion expects to receive total
gross proceeds of approximately $200 million, assuming no exercise
of the underwriters’ option to purchase additional shares. The
offering is expected to close on or about June 28, 2024, subject to
satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC and J.P. Morgan are
acting as lead book-running managers for the offering. Allen &
Company LLC is acting as book-running manager for the offering.
The shares are being offered by Recursion
pursuant to a registration statement on Form S-3, which became
automatically effective upon filing with the U.S. Securities and
Exchange Commission (“SEC”) on May 10, 2022. The offering is being
made solely by means of a written prospectus and a prospectus
supplement that form a part of the registration statement. A copy
of the preliminary prospectus supplement and accompanying
prospectus relating to the offering was filed on June 26, 2024. A
final prospectus supplement and accompanying prospectus relating to
the offering will also be filed with the SEC. These documents can
be accessed for free through the SEC’s website at www.sec.gov.
Alternatively, a copy of the final prospectus supplement and
accompanying prospectus relating to this offering may be obtained,
when available, by contacting: Goldman Sachs & Co. LLC,
Attention: Prospectus Department, 200 West Street, New York, NY
10282, by telephone at (866) 471-2526 or by email at
prospectus-ny@ny.email.gs.com; or J.P. Morgan Securities LLC,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com
and postsalemanualrequests@broadridge.com.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy, nor will there be any
sale of these securities in any state or other jurisdiction in
which such offer, solicitation, or sale would be unlawful before
registration or qualification under the securities laws of that
state or jurisdiction.
About Recursion
Recursion is a leading clinical stage TechBio
company decoding biology to industrialize drug discovery. Central
to its mission is the Recursion Operating System (OS), a platform
built across diverse technologies that continuously expands one of
the world’s largest proprietary biological, chemical and
patient-centric datasets. Recursion leverages sophisticated
machine-learning algorithms to distill from its dataset a
collection of trillions of searchable relationships across biology
and chemistry unconstrained by human bias. By commanding massive
experimental scale—up to millions of wet lab experiments weekly—and
massive computational scale—owning and operating one of the most
powerful supercomputers in the world—Recursion is uniting
technology, biology, chemistry and patient-centric data to advance
the future of medicine.
Recursion is headquartered in Salt Lake City,
where it is a founding member of BioHive, the Utah life sciences
industry collective. Recursion also has offices in Toronto,
Montreal, the San Francisco Bay Area and London.
Forward-Looking Statements
This press release contains information that
includes or is based upon “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, without limitation, statements regarding the expected
completion and timing of closing of the offering, the anticipated
total gross proceeds from the offering and all other statements
that are not statements of historical facts. Forward-looking
statements may or may not include identifying words such as
“intend,” “plan,” “will,” “expect,” “anticipate,” “believe,”
“potential,” “continue,” and similar terms. These statements are
subject to known and unknown risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied in such statements, including but not limited to:
prevailing market conditions; the satisfaction of customary closing
conditions; general economic, industry or political conditions;
challenges inherent in pharmaceutical research and development,
including the timing and results of preclinical and clinical
programs, where the risk of failure is high and failure can occur
at any stage prior to or after regulatory approval due to lack of
sufficient efficacy, safety considerations, or other factors;
Recursion’s ability to leverage and enhance its drug discovery
platform; Recursion’s ability to obtain financing for development
activities and other corporate purposes; the success of Recursion’s
collaboration activities; Recursion’s ability to obtain regulatory
approval of, and ultimately commercialize, drug candidates;
Recursion’s ability to obtain, maintain, and enforce intellectual
property protections; cyberattacks or other disruptions to
Recursion’s technology systems; Recursion’s ability to attract,
motivate, and retain key employees and manage its growth; inflation
and other macroeconomic issues; and other risks and uncertainties
such as those described under the heading “Risk Factors” in the
preliminary prospectus supplement and accompanying prospectus
relating to the offering and in Recursion’s filings with
the SEC, including its most recent Annual Report on Form 10-K
and Quarterly Report on Form 10-Q. All forward-looking statements
are based on management’s current estimates, projections, and
assumptions, and Recursion undertakes no obligation to correct or
update any such statements, whether as a result of new information,
future developments, or otherwise, except to the extent required by
applicable law.
Investor Contact:
investor@recursion.com
Media Contact:
media@recursion.com
Ryan Kelly
Recursion Pharmaceuticals
media@recursion.com
Recursion Pharmaceuticals (NASDAQ:RXRX)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Recursion Pharmaceuticals (NASDAQ:RXRX)
Historical Stock Chart
Von Jun 2023 bis Jun 2024