Simulations Plus Announces Pricing of $100 Million Underwritten Offering of Common Stock

Simulations Plus, Inc. (Nasdaq: SLP), a premier developer of drug discovery and development software for modeling and simulation software products and services for the pharmaceutical, biotechnology, agrochemical, cosmetics and food industries, today announced the entry into an underwriting agreement relating to the sale of 1,818,182 shares of its common stock at an offering price of $55.00 per share, less underwriting discounts and commission. The offering is expected to close on or about August 10, 2020, subject to satisfaction of customary closing conditions. Simulations Plus has granted the underwriters a 30-day option to purchase up to 272,727 additional shares of common stock at the public offering price, less the underwriting discount, to cover over-allotments, if any.

Oppenheimer & Co. Inc. and Raymond James & Associates, Inc. are acting as joint book-running managers for the offering. Craig-Hallum Capital Group is acting as co-manager for the offering.

The gross proceeds from the offering are expected to be $100 million, before deducting underwriting discounts and commissions and estimated offering expenses.

Simulations Plus intends to use the net proceeds from the offering for strategic mergers and acquisitions, although Simulations Plus has no present commitments or agreements to enter into any such mergers or acquisitions, working capital requirements and other general corporate purposes, including investing in enhanced information and accounting systems, and personnel in support of corporate growth.

This offering is being made pursuant to an automatic shelf registration statement on Form S-3 (No. 333-239770), which was previously filed with the Securities and Exchange Commission ("SEC”) on July 9, 2020, which became automatically effective. The preliminary prospectus supplement related to this offering was filed with the SEC on August 4, 2020. The final prospectus supplement and accompanying prospectus will be filed with the SEC and will be available on the SEC’s website located at https://www.sec.gov, or by contacting Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad St., 26th Floor, New York, NY 10004, by telephone at (212) 667-8055 or by email at EquityProspectus@opco.com; or Raymond James & Associates, Inc., Attention: Syndicate Department, 880 Carillon Parkway, St. Petersburg, FL 33716, by telephone at (800) 248-8863 or by email at prospectus@raymondjames.com.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Simulations Plus, Inc.

Simulations Plus, Inc. is a premier developer of drug discovery and development software as well as a leading provider of both preclinical and clinical pharmacometric consulting services for regulatory submissions and quantitative systems pharmacology/toxicology models for drug-induced liver injury and nonalcoholic fatty liver disease. The company is a global leader focused on improving the ways scientists use knowledge and data to predict the properties and outcomes of pharmaceutical, biotechnology, and chemical agents. Our software is licensed to and used in the conduct of research by major pharmaceutical, biotechnology, chemical, consumer goods companies, and regulatory agencies worldwide. Our innovations in integrating new and existing science in medicinal chemistry, computational chemistry, artificial intelligence, pharmaceutical science, biology, and physiology into our software have made us the leading software provider for molecular property prediction from structure and physiologically based pharmacokinetic modeling and simulation. For more information, visit our website at www.simulations-plus.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like "believe,” "expect” and "anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks and uncertainties associated with market conditions, the satisfaction of customary closing conditions relating to the public offering and the Company’s intended use of proceeds. Further information on our risk factors is contained in our quarterly and annual reports and in the preliminary prospectus supplement related to this offering filed with the U.S. Securities and Exchange Commission, and will be contained in the final prospectus supplement that will be filed with the U.S. Securities and Exchange Commission.

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