Standard BioTools Inc. anticipates a favorable outcome at its upcoming stockholder meeting following ISS’s endorsement to vote “FOR” all proposals related to the impending merger with SomaLogic. The merger promises accelerated profitability and an enhanced capital structure, vital for future growth. Scheduled for January 4, 2024, the virtual meeting aims to finalize the merger, contingent on approvals from both companies’ stockholders and fulfillment of standard closing conditions.
Standard BioTools Inc. (Nasdaq: LAB), driven by a bold purpose – Unleashing tools to accelerate breakthroughs in human health – today announced that leading independent proxy advisory firm Institutional Shareholder Services (“ISS”) has recommended that Standard BioTools stockholders vote “FOR” all proposals relating to the pending merger with SomaLogic at the Company’s upcoming Special Meeting of Stockholders to be held on January 4, 2024. The Company issued the following statement:
Our merger with SomaLogic presents a compelling value proposition for all stockholders through a significantly accelerated path to profitability and bolstered capital structure to fuel future growth. We are pleased with ISS’ recommendation and look forward to completing the merger in the first quarter of 2024.
A special meeting of Standard BioTools stockholders is scheduled to be held virtually in connection with the proposed merger on January 4, 2024, at 12:00 p.m. ET (10:00 a.m. MT / 9:00 a.m. PT). Standard BioTools stockholders who need assistance voting or have questions regarding the Special Meeting may contact Standard BioTools’ proxy solicitor, Alliance Advisors LLC, at (800) 574-5969.
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The merger remains on track to close in the first quarter of 2024, subject to approval by SomaLogic and Standard BioTools stockholders and satisfaction of other customary closing conditions.
Source: Bio Space