Standard BioTools, SomaLogic Announce All-stock Merger - Quick Facts

(RTTNews) - Standard BioTools Inc. (LAB) and SomaLogic (SLGC) have entered into a definitive agreement to combine in an all-stock merger. 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 deal, 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 basis.

Upon close, Michael Egholm will serve as Chief Executive Officer, Jeff Black will serve as Chief Financial Officer and Alex Kim will serve as Chief Operating Officer of the combined company. The transaction is anticipated to close in the first quarter of 2024.

Standard BioTools said it expects full year 2023 revenue of $100 - $105 million, an increase from prior guidance.

SomaLogic reaffirmed full year 2023 revenue guidance of $80 - $84 million.