Brief: Somalogic, Leading Ai-Data Driven Proteomics Platform For Advanced Research And Clinical Applications, To Combine With Cm Life Sciences Ii, To Drive Growth And Expand Technology Platform

Inflection Point Acquisition VII

29/03/2021 12:24

March 29 (Reuters) - CM Life Sciences II Inc  CMIIU.O :
    * SOMALOGIC, LEADING AI-DATA DRIVEN PROTEOMICS PLATFORM FOR
ADVANCED RESEARCH AND CLINICAL APPLICATIONS, TO COMBINE WITH CM
LIFE SCIENCES II, TO DRIVE GROWTH AND EXPAND TECHNOLOGY PLATFORM
    * CM LIFE SCIENCES II INC - UPON CLOSING OF DEAL CO WILL BE
RENAMED & COMMON STOCK WILL BE LISTED ON NASDAQ GLOBAL MARKET
UNDER TICKER SYMBOL “SLGC”
    * CM LIFE SCIENCES II INC - TRANSACTION VALUES SOMALOGIC AT
A
PRE-TRANSACTION ENTERPRISE VALUE OF ABOUT $1.23 BILLION
    * CM LIFE SCIENCES II INC - COMBINATION IS EXPECTED TO
PROVIDE UP
TO $651 MILLION IN CASH PROCEEDS FOR SOMALOGIC
    * CM LIFE SCIENCES II INC - FINANCING INCLUDES A FULLY
COMMITTED
PIPE OF $375 MILLION FROM BOTH NEW INVESTORS IN SOMALOGIC AND
PRIOR INVESTORS
    * CM LIFE SCIENCES II INC - SOMALOGIC BOARD AT CLOSING
ANTICIPATED
TO INCLUDE NEW DIRECTORS KEVIN CONROY, CHAIRMAN & CEO OF EXACT
SCIENCES, TROY COX
    * CM LIFE SCIENCES II INC - PIPE INVESTORS INCLUDE FUNDS
ADVISED
BY CASDIN CAPITAL, CORVEX MANAGEMENT, JANUS HENDERSON INVESTORS,
SB MANAGEMENT
    * CM LIFE SCIENCES II INC - COMBINED CO WILL CONTINUE TO
OPERATE
UNDER SOMALOGIC MANAGEMENT TEAM

Source text for Eikon:  ID:nBw2l5sgsa 
Further company coverage:  CMIIU.O 

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