(RTTNews) - Singular Genomics Systems, Inc. (OMIC), a US-based life science technology company Friday has officially completed its acquisition by an affiliate of Deerfield Management Company, L.P.
An agreement reached on December 23, 2024, enables Deerfield to acquire every common share of Singular Genomics it does not already hold, with each share valued at $20.00 in cash.
The acquisition is now complete, With all customary conditions met, including shareholder approval on February 19. As a result, Singular Genomics has transitioned into a privately held company, a move the Board of Directors believes will offer greater flexibility in executing its business strategy. Trading of its common stock on Nasdaq has been suspended, and the company has initiated the delisting process.
As part of the transaction, Josh Stahl has been named Chief Executive Officer of Singular Genomics and will take a seat on the Board of Directors. Additionally, Jason Myers will join the Board. Drew Spaventa, the company's co-founder and former CEO and Chairman, will remain on the Board while also serving as a special advisor to the CEO.
TD Securities and Houlihan Lokey acted as financial advisors to the Special Committee of Singular Genomics' Board of Directors, while Gunderson Dettmer, LLP provided legal counsel to the company. Richards, Layton & Finger, P.A. served as legal counsel to the Special Committee, and Katten Muchin Rosenman LLP advised Deerfield on legal matters.
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