Recursion Announces Pricing of $200 Million Public Offering of Class A Common Stock

Salt Lake City — 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 Class A common stock at a public price of $6.50 per share. All shares must be sold by Recursion. Additionally, Recursion has granted the underwriters a 30-day option to purchase up to 4,615,384 additional shares of Class A common stock. Before deducting underwriting discounts and commissions and estimated offering expenses, Recursion expects to receive aggregate gross proceeds of approximately $200 million, assuming the underwriters’ option to purchase additional shares does not is not exercised. The offering is expected to close on or about June 28, 2024, subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC and JP 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 only by means of a written prospectus and 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 are available free of charge on 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 (email protected); or JP Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email to (email protected) And (protected email).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About recursion

Recursion is a leading clinical-stage biotechnology company decoding biology to industrialize drug discovery. At the heart of its mission is the Recursion Operating System (OS), a platform built on diverse technologies that continually expands one of the largest sets of proprietary biological, chemical, and patient-centered data in the world. Recursion leverages sophisticated machine learning algorithms to extract a collection of billions of searchable relationships in biology and chemistry from its dataset, unconstrained by human bias. By commanding massive experimental scale – up to millions of wet lab experiments each week – and massive computational scale – owning and operating one of the most powerful supercomputers in the world – Recursion brings together the technology, biology, chemistry and patient-centered data to advance the future of medicine.

Recursion is headquartered in Salt Lake City, where it is a founding member of BioHive, Utah’s life sciences industry collective. Recursion also has offices in Toronto, Montreal, the San Francisco Bay Area and London.

Forward-looking statements

English This press release contains information that includes or is based on “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 aggregate gross proceeds of the offering and all other statements that are not statements of historical fact. 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; satisfaction of customary closing conditions; general economic, industrial or political conditions; the challenges inherent in pharmaceutical research and development, including the timing and outcomes of preclinical and clinical programs, where the risk of failure is high and failure may occur at any stage before or after regulatory approval due lack of sufficient effectiveness, safety considerations or other factors; Recursion’s ability to leverage and improve its drug discovery platform; Recursion’s ability to obtain financing for development activities and other corporate purposes; the success of Recursion’s collaborative activities; Recursion’s ability to obtain regulatory approval 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 its 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 these statements, whether as a result of new information, future developments or otherwise. , except to the extent required by applicable law.

Investor contact:

(email protected)

Media Contact:

(protected email)

Ryan KellyRecursion Pharmaceuticals(protected email)

Recurring pharmaceutical products