Exscientia Set to Merge with Recursion Pharmaceuticals in a $193 Million All-Stock Deal

Recursion Pharmaceuticals Inc. (RXRX) on August 8, 2024, entered a merger agreement to acquire a smaller rival Exscientia Plc (EXAI) in an all-stock deal valued at about $193.06 million.

Deal Structure:

As per the agreement, Exscientia shareholders will receive 0.7729 shares of Recursion Class A common stock for each Exscientia ordinary share they own, at a price of about $4.92 per share, representing a premium of 9.33% from the stock’s last close.

Please subscribe for free or login to your InsideArbitrage account to access this article.