Brief: CM Life Sciences III Inc Says Melanie Nallicheri Has Been Appointed Chief Executive Officer Of Eqrx

EQRx

06/08/2021 12:27

Aug 6 (Reuters) - CM Life Sciences III Inc  CMLT.O :
    * CM LIFE SCIENCES III INC SAYS MELANIE NALLICHERI HAS BEEN
APPOINTED CHIEF EXECUTIVE OFFICER OF EQRX
    * CM LIFE SCIENCES III INC SAYS ALEXIS BORISY HAS BEEN
APPOINTED
EXECUTIVE CHAIRMAN OF EQRX'S BOARD OF DIRECTORS
    * CM LIFE SCIENCES III INC - TRANSACTION IS EXPECTED TO
PROVIDE UP
TO $1.8 BILLION IN CASH PROCEEDS TO EQRX
    * CM LIFE SCIENCES III INC - UPON CLOSING OF BUSINESS
COMBINATION,
CM LIFE SCIENCES III WILL BE RENAMED "EQRX, INC."
    * CM LIFE SCIENCES III - UPON CLOSING, COMBINED CO'S COMMON
STOCK,
WARRANTS EXPECTED TO REMAIN LISTED ON NASDAQ GLOBAL MARKET UNDER
TICKER SYMBOLS "EQRX" & "EQRXW," RESPECTIVELY
    * CM LIFE SCIENCES III INC - DEAL FINANCING INCLUDES FULLY
COMMITTED PRIVATE PLACEMENT OF COMMON STOCK OF $1.2 BILLION AT
$10.00 PER SHARE
    * CM LIFE SCIENCES III - PIPE FROM  INVESTORS, LED BY SB
NORTHSTAR
LP AND INCLUDING FUNDS ADVISED BY CASDIN CAPITAL AND CORVEX
MANAGEMENT
    * CM LIFE SCIENCES III - PARTICIPANTS IN PIPE INCLUDE
FIDELITY
MANAGEMENT & RESEARCH, FRANKLIN TEMPLETON ANDREESSEN HOROWITZ
(A16Z)
    * CM LIFE SCIENCES III - PARTICIPANTS IN PIPE INCLUDE
ANDREESSEN
HOROWITZ (A16Z), MUBADALA INVESTMENT & ASSET MANAGEMENT UNIT,
MUBADALA CAPITAL, VERILY, OTHERS
    * CM LIFE SCIENCES III - AS PART OF DEAL, EQRX STOCKHOLDERS
WILL
RECEIVE COMMON STOCK OF CM LIFE SCIENCES III IN EXCHANGE FOR
SHARES OF EQRX
    * CM LIFE SCIENCES III - DEAL VALUES EQRX AT PRE-TRANSACTION
ENTERPRISE VALUE OF $3.65 BILLION WITH ADDITIONAL $500 MILLION
POTENTIAL PERFORMANCE BASED EARNOUT

Source text for Eikon:  ID:nBwbdQs36a 
Further company coverage:  CMLT.O 

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