Brief: Standard Biotools And Somalogic To Combine In All-Stock Merger

Standard BioTools

04/10/2023 13:09

Oct 4 (Reuters) - Standard BioTools Inc  LAB.O :
    * STANDARD BIOTOOLS AND SOMALOGIC TO COMBINE IN ALL-STOCK
MERGER
CREATING A DIVERSIFIED LEADER IN LIFE SCIENCES TOOLS
    * STANDARD BIOTOOLS INC - GENERATES ESTIMATED $80 MILLION OF
ANNUAL COST SYNERGIES BY 2026 AND ENHANCED COMBINED PATH TO
PROFITABILITY
    * STANDARD BIOTOOLS INC - SOMALOGIC REAFFIRMS FULL YEAR 2023
REVENUE GUIDANCE OF $80 - $84 MILLION
    * STANDARD BIOTOOLS INC - STANDARD BIOTOOLS INCREASES FULL
YEAR
2023 REVENUE GUIDANCE TO $100 - $105 MILLION
    * STANDARD BIOTOOLS - UNDER DEAL,SOMALOGIC SHAREHOLDERS TO
GET
1.11 SHARES OF STANDARD BIOTOOLS COMMON STOCK FOR EACH SHARE OF
SOMALOGIC STOCK OWNED
    * STANDARD BIOTOOLS INC - UPON CLOSE OF TRANSACTION,
STANDARD
BIOTOOLS SHAREHOLDERS WILL OWN APPROXIMATELY 43% OF COMBINED
COMPANY
    * STANDARD BIOTOOLS INC - UPON CLOSE, COMBINED COMPANY'S
BOARD
WILL CONSIST OF SEVEN DIRECTORS, THREE OF WHOM WILL BE
DESIGNATED BY STANDARD BIOTOOLS
    * STANDARD BIOTOOLS INC - UPON CLOSING OF DEAL, SOMALOGIC
SHAREHOLDERS WILL OWN APPROXIMATELY 57% OF COMBINED COMPANY ON A
FULLY DILUTED BASIS
    * STANDARD BIOTOOLS INC - UPON CLOSE, MICHAEL EGHOLM WILL
SERVE AS
CHIEF EXECUTIVE OFFICER, JEFF BLACK WILL SERVE AS CHIEF
FINANCIAL OFFICER
    * STANDARD BIOTOOLS - COMBINED CO WILL OPERATE UNDER
STANDARD
BIOTOOLS NAME WITH FACILITIES IN CALIFORNIA, COLORADO,
MASSACHUSETTS, CANADA AND SINGAPORE

Source text for Eikon:  ID:nGNX2Yr4qg 
Further company coverage:  LAB.O 

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