Standard BioTools And SomaLogic To Combine In All-Stock Merger Creating A Diversified Leader In Life Sciences Tools; Standard BioTools Shareholders Will Own ~43% Of The Combined Co, And SomaLogic Shareholders Will Own ~57% Of The Combined Co
Portfolio Pulse from Benzinga Newsdesk
Standard BioTools (NASDAQ:LAB) and SomaLogic (NASDAQ:SLGC) have announced an all-stock merger, creating a diversified leader in life sciences tools. The combined company will have a pro-forma equity value of over $1 billion and over $180 million of pro-forma combined revenue for the full year 2023. The merger is expected to generate $80 million in annual cost synergies by 2026. Standard BioTools shareholders will own approximately 43% of the combined company, and SomaLogic shareholders will own approximately 57%.
October 04, 2023 | 12:14 pm
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POSITIVE IMPACT
Standard BioTools is merging with SomaLogic in an all-stock deal. The merger is expected to generate $80 million in annual cost synergies by 2026 and increase the company's revenue guidance for 2023.
The merger with SomaLogic is expected to unlock value in the underserved portion of the life sciences tools industry and increase Standard BioTools' revenue. This could potentially lead to a positive impact on the company's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
SomaLogic is merging with Standard BioTools in an all-stock deal. The merger is expected to generate $80 million in annual cost synergies by 2026 and reaffirm the company's revenue guidance for 2023.
The merger with Standard BioTools is expected to unlock value in the underserved portion of the life sciences tools industry and reaffirm SomaLogic's revenue guidance. This could potentially lead to a positive impact on the company's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100