M&A · Healthcare · Services-Commercial Physical & Biological Research
Standard Biotools Inc. to acquire SomaLogic, Inc.
Announced Oct 4, 2023 · Closed Jan 5, 2024
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Standard Biotools Inc. (LAB)
- Target
- SomaLogic, Inc. (SLGC)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Jan 5, 2024
Deal protections
- Break fee (target pays)
- $17.2M
- Reverse fee (buyer pays)
- $19.1M
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Centerview
- To the target
- Perella Weinberg, TD Cowen
Sector context · Healthcare
- Comparable deals
- 92 in the prior 24 months
- Premium
- Sector median 51.0%
- EV / Adj. EBITDA
- Sector median 17.1x
- Break fee
- Sector median 3.5%
Timeline
- AnnouncedOct 4, 2023
- Proxy filedDec 1, 2023
- Definitive proxyDec 1, 2023
- Shareholder voteJan 4, 2024
- ClosedJan 5, 2024
Valuation · fairness opinions
Trading comparablesCenterview$1.60$3.15
Discounted cash flowCenterview$2.90$4.20
Trading comparablesCenterview$2.35$3.40
Discounted cash flowCenterview$2.90$3.80
Trading comparables$2.81$3.45
Trading comparables$0.97$4.55
Trading comparables$2.65$3.45
Trading comparables$0.77$4.85
Discounted cash flow$2.59$3.49
Implied value per SomaLogic, Inc. share by analysis, from Centerview · DCF discount rate 15%–18%.