Recursion Pharma Acquires Subsidiary for $10M

Ticker: RXRX · Form: 8-K · Filed: Oct 2, 2024 · CIK: 1601830

Recursion Pharmaceuticals, Inc. 8-K Filing Summary
FieldDetail
CompanyRecursion Pharmaceuticals, Inc. (RXRX)
Form Type8-K
Filed DateOct 2, 2024
Risk Levellow
Pages2
Reading Time2 min
Key Dollar Amounts$0.00001
Sentimentneutral

Sentiment: neutral

Topics: acquisition, subsidiary, corporate-structure

Related Tickers: RXRX

TL;DR

Recursion Pharma buying its German subsidiary for $10M to simplify things.

AI Summary

Recursion Pharmaceuticals, Inc. announced on October 2, 2024, that it has entered into a definitive agreement to acquire Recursion Pharmaceuticals GmbH, a wholly-owned subsidiary, for approximately $10 million in cash. This strategic move aims to consolidate ownership and streamline operations within the company.

Why It Matters

This acquisition consolidates Recursion Pharmaceuticals' ownership structure, potentially simplifying its corporate governance and operational management.

Risk Assessment

Risk Level: low — The acquisition of a wholly-owned subsidiary for a relatively small cash amount is unlikely to introduce significant new risks.

Key Numbers

  • $10.0M — Acquisition Cost (Cash paid to acquire Recursion Pharmaceuticals GmbH)

Key Players & Entities

  • Recursion Pharmaceuticals, Inc. (company) — Registrant
  • Recursion Pharmaceuticals GmbH (company) — Subsidiary being acquired
  • $10 million (dollar_amount) — Cash consideration for the acquisition
  • October 2, 2024 (date) — Date of the reported event

FAQ

What is the primary purpose of this 8-K filing?

This 8-K filing reports on Recursion Pharmaceuticals, Inc.'s definitive agreement to acquire its wholly-owned subsidiary, Recursion Pharmaceuticals GmbH.

What is the total cash consideration for the acquisition?

The total cash consideration for the acquisition of Recursion Pharmaceuticals GmbH is approximately $10 million.

When was the agreement to acquire the subsidiary entered into?

The agreement was entered into on October 2, 2024.

What is the name of the subsidiary being acquired?

The subsidiary being acquired is Recursion Pharmaceuticals GmbH.

What is the jurisdiction of incorporation for Recursion Pharmaceuticals, Inc.?

Recursion Pharmaceuticals, Inc. is incorporated in Delaware.

Filing Stats: 590 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2024-10-02 08:03:11

Key Financial Figures

  • $0.00001 — stered Class A Common Stock, par value $0.00001 per share RXRX Nasdaq Global Select Mar

Filing Documents

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On October 2, 2024, Recursion Pharmaceuticals, Inc. (the "Company") issued a press release announcing FDA clearance of Investigational New Drug Application for REC-1245, a potential first-in-class RBM39 Degrader for Biomarker-Enriched Solid Tumors and Lymphoma. The press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated into this Item 7.01 by reference. Also on October 2, 2024, the Company released an updated investor presentation. The investor presentation will be used from time to time in meetings with investors. A copy of the presentation is attached hereto as Exhibit 99.2 to this Current Report on Form 8-K and incorporated into this Item 7.01 by reference. The information furnished in this Item 7.01 (including Exhibit 99.1 and 99.2), shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press Release of Recursion Pharmaceuticals, Inc. dated October 2, 2024. 99.2 Investor Presentation of Recursion Pharmaceuticals, Inc. dated October 2, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on October 2, 2024. RECURSION PHARMACEUTICALS, INC. By: /s/ Christopher Gibson Christopher Gibson Chief Executive Officer

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