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Standard BioTools to Merge with SomaLogic in All-Stock Merger.

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Vincent

MANews-(C)2009-2023

US-based biomedical research tools provider Standard BioTools Inc. (NASDAQ: LAB) has combined in an all-stock merger with US-based preteomics technology company SomaLogic (NASDAQ: SLGC), the company said.

The combined company, with a pro-forma equity value of over USD1 bn based on Standard BioTools' closing share price on October 3, 2023, will be a provider of differentiated multi-omics tools for research.

With products distributed in approximately 50 countries and a global infrastructure, the combined company would become a leading platform of multi-omic technologies with over USD 180m of pro-forma combined revenue for the full year 2023 and a balance sheet with over USD 500m in estimated cash and cash equivalents at close.

Under the terms of the agreement, SomaLogic shareholders will receive 1.11 shares of Standard BioTools common stock for each share of SomaLogic common stock owned.

Upon the close of the transaction, Standard BioTools shareholders will own approximately 43% of the combined company, and SomaLogic shareholders will own approximately 57% of the combined company on a fully diluted...

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