Singular Genomics Receives Non-Binding Acquisition Proposal From Concentra Biosciences And Tang Capital To Acquire All Of The Company's Outstanding Shares Of Common Stock For $12.00 Per Share In Cash
Portfolio Pulse from Benzinga Newsdesk
Singular Genomics Systems, Inc. (NASDAQ:OMIC) has received a non-binding acquisition proposal from Concentra Biosciences and Tang Capital to acquire all outstanding shares for $12.00 per share in cash. Alternatively, stockholders may opt for a contingent value right to participate in future business value.
September 19, 2024 | 9:25 pm
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Singular Genomics has received a non-binding acquisition proposal from Concentra Biosciences and Tang Capital for $12 per share. This proposal could lead to a significant increase in OMIC's stock price if accepted.
The acquisition proposal at $12 per share represents a premium over the current market price, which is likely to drive the stock price up in the short term. The involvement of Tang Capital, a significant shareholder, adds credibility to the proposal.
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