Simulations Plus acquires Pro-ficiency for $100M cash; deal doubles TAM to $8B, expected accretive to FY2025 EPS

Simulations Plus, Inc.

All-cash purchase of Pro-ficiency for $100M; funded from existing cash and investments; no debt retained after deal.
Deal expected to be accretive to fiscal 2025 EPS; doubles total addressable market to $8B.
Pro-ficiency provides simulation-enabled solutions for clinical and commercial drug development; expands Simulations Plus along drug development value chain.
Michael Raymer, former Pro-ficiency CEO, appointed Business Unit President; base salary $325K, 15,000 stock options, up to 25% annual bonus.
Transaction bonuses of $137,500 to CFO Will Frederick and $13,750 to President Brett Howell for their contributions to the acquisition.

item 1.01 item 5.02 item 7.01 item 9.01

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Appointed

Michael Raymer

Business Unit President

SLP · Simulations Plus, Inc.

Effective: 2024-06-11
Filed: June 12, 2024, 7:59 PM ET

on June 11, 2024, Michael Raymer, the chief executive officer of Pro-ficiency pre-Acquisition, was appointed as Business Unit President of the Company

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Raymer was appointed as Business Unit President at Simulations Plus, Inc..

Action: appointed
Role: Business Unit President

Exact text from the filing

on June 11, 2024, Michael Raymer, the chief executive officer of Pro-ficiency pre-Acquisition, was appointed as Business Unit President of the Company

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Simulations Plus, Inc. filing history →

Source: SEC EDGAR

accession 0001023459-24-000078

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