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 closing of its previously announced underwritten public offering of 2,090,909 shares of its common stock to the public at $55.00 per share, which included the full exercise of the underwriters’ option to purchase 272,727 additional shares of common stock. The aggregate gross proceeds to Simulations Plus from this offering were approximately $115 million, before deducting underwriting discounts and commissions and other offering expenses payable by Simulations Plus.

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

The offering was made only by means of a written prospectus supplement and prospectus forming part of an automatic shelf registration statement on Form S-3 (No. 333-239770) previously filed with the Securities and Exchange Commission (“SEC”) on July 9, 2020, which became automatically effective. The final prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus may also be obtained 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.

Excel Partners served as financial advisor to Simulations Plus in connection with the offering. Procopio, Cory, Hargreaves & Savitch LLP served as legal counsel to Simulations Plus and White & Case LLP served as legal counsel to the underwriters in connection with the offering.

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.