---
schema_version: "secwatch.filing_event.v1"
accession: "0001023459-23-000074"
form_type: "8-K"
ticker: "SLP"
cik: "0001023459"
company_name: "Simulations Plus, Inc."
filed_at: "2023-06-20T23:59:59+00:00"
generated_at: "2026-06-13T20:30:58.430447+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Simulations Plus acquires Immunetrics for $15.5M+$8M earnout to expand QSP capabilities

## Summary
- Total consideration up to $23.5M: $15.5M cash at closing (incl. $1.8M holdback) plus up to $8M earnout based on 2023-2024 revenue.
- Acquisition closed June 16, 2023; Immunetrics becomes wholly-owned subsidiary of Simulations Plus.
- Expands QSP modeling into immunology/oncology; therapeutic areas covered increased by over 50% to 20.
- Steven Chang, ex-CEO of Immunetrics, appointed President of surviving entity with 2-year employment agreement; $330,000 base salary plus up to 10% bonus.

## SEC filing metadata
- accession: 0001023459-23-000074
- form_type: 8-K
- ticker: SLP
- cik: 0001023459
- company_name: Simulations Plus, Inc.
- filed_at: 2023-06-20T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023459/000102345923000074/0001023459-23-000074-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023459/000102345923000074/slp-20230616.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001023459-23-000074
- JSON: https://secwatch.observer/filing/0001023459-23-000074.json
- Plain text: https://secwatch.observer/filing/0001023459-23-000074.txt

## Key facts
- Executive change
  Steven Chang was appointed as President at Simulations Plus, Inc..
  - Action: appointed
  - Role: President
  source text: Steven Chang, the Chief Executive Officer of Immunetrics pre-Merger, was appointed as President of the Surviving Corporation
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023459/000102345923000074/0001023459-23-000074-index.htm
- Material Agreements
  Simulations Plus, Inc. entered into Agreement and Plan of Merger with Immunetrics, Inc. and LaunchCyte LLC, as representative of the stockholders of Immunetrics valued at $13,705,082.50 (effective 2023-06-16).
  - Action: entry
  - Agreement: merger
  - Counterparty: Immunetrics, Inc. and LaunchCyte LLC, as representative of the stockholders of Immunetrics
  - Value: $13,705,082.50
  - Effective: 2023-06-16
  source text: On June 16, 2023, Simulations Plus, Inc. (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) by and among the Company, Insight Merger Sub, Inc., a wholly-owned subsidiary of the Company (“Merger Sub”), Immunetrics, Inc. (“Immunetrics”), a company specializing in quantitative systems pharmacology modeling, and LaunchCyte LLC, as representative of the stockholders of Immunetrics (the “Stockholder Representative”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023459/000102345923000074/0001023459-23-000074-index.htm
- Material Agreements
  Simulations Plus, Inc. entered into Earnout Agreement with the Company, Merger Sub, Immunetrics and the Stockholder Representative valued at up to $8.0 million of Earnout Payments (effective 2023-06-16).
  - Action: entry
  - Counterparty: the Company, Merger Sub, Immunetrics and the Stockholder Representative
  - Value: up to $8.0 million of Earnout Payments
  - Effective: 2023-06-16
  source text: Pursuant to the Earnout Agreement, the Company shall pay the Equityholders an aggregate amount of up to $8.0 million of Earnout Payments
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023459/000102345923000074/0001023459-23-000074-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.