SomaLogic and Standard BioTools have recently reached an agreement for an all-stock merger, aiming to create a leading company in the field of life sciences tools. With a pro-forma equity value surpassing $1 billion, this partnership is set to bring about exciting opportunities and advances.
A Powerful Collaboration
The merger, scheduled to be finalized in the first quarter of next year pending stockholder approval, will result in SomaLogic stockholders receiving 1.11 shares of Standard BioTools for each share of SomaLogic they currently own. This deal will provide Standard BioTools shareholders with approximately 43% ownership in the combined company, while SomaLogic’s shareholders will possess the remaining 57%.
Unanimous Approval
The boards of both companies have unanimously approved this transformative transaction, recognizing the immense potential it holds for growth and innovation within the life sciences industry.
A New Era
Following the completion of the merger, the combined entity will adopt the name “Standard BioTools” and retain its top leadership team. Chief Executive Michael Egholm, Chief Financial Officer Jeff Black, and Chief Operating Officer Alex Kim will continue to guide the new company towards success.
Furthermore, both parties have strategically assigned key roles to drive the future success of the merged organization. Shane Bowen, SomaLogic’s Chief Research and Development Officer, is expected to assume the responsibility of Chief Technology Officer in the combined company. Additionally, Adam Taich, SomaLogic’s interim Chief Executive, will transition into the role of Chief Strategy Officer for the new entity.
We are thrilled about this exciting merger and look forward to the significant advancements that Standard BioTools will bring to the life sciences tools industry.