UPDATE: Schrodinger Inc. (SDGR) Prices 11.88M Share IPO at $17/Sh

Schrödinger, Inc. (NASDAQ: SDGR), whose differentiated, physics-based software platform enables discovery of high-quality, novel molecules for drug development and materials applications, today announced the pricing of its initial public offering of 11,882,352 shares of common stock at a public offering price of $17.00 per share, for total gross proceeds of approximately $202.0 million, before underwriting discounts and commissions and offering expenses payable by the Company. All of the shares are being offered and sold by the Company. The offering is expected to close on or about February 10, 2020, subject to the satisfaction of customary closing conditions. In addition, the Company has granted the underwriters a 30-day option to purchase up to 1,782,352 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions.

The Company’s common stock is expected to begin trading on the Nasdaq Global Market under the ticker symbol “SDGR” on February 6, 2020. Morgan Stanley, BofA Securities, Jefferies LLC and BMO Capital Markets Corp. are acting as joint book-running managers for the offering.

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