Summary by Futu AI
On June 26, 2024, Recursion Pharmaceuticals, Inc., a clinical stage TechBio company, announced a public offering of 30,769,230 shares of its Class A common stock at $6.50 per share. The offering, which is expected to close on June 28, 2024, subject to customary closing conditions, could raise approximately $200 million, or up to $230 million if the underwriters exercise their option to purchase additional shares. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as the representatives of the underwriters for this offering. The company has also entered into lock-up agreements with its executive officers, directors, and certain related entities, restricting the sale of securities for a 45-day period. The offering is made under Recursion's effective registration statement on Form S-3 and related prospectus filed with the SEC. The company aims to use the proceeds for development activities and other corporate purposes, leveraging its Recursion Operating System to industrialize drug discovery.