M&A · Healthcare · Laboratory Analytical Instruments
Deerfield Management Company, L.P. to acquire Singular Genomics Systems, Inc.
Announced Dec 23, 2024 · Closed Feb 21, 2025
Deal value$50MEV $8M
Premium254.0%To unaffected price
EV / Adj. EBITDA—2.9x EV / Revenue
ConsiderationAll cash$20.00 per share
Transaction
- Acquirer
- Deerfield Management Company, L.P.
- Target
- Singular Genomics Systems, Inc. (OMIC)
- Buyer type
- Private equity
- Offer price per share
- $20.00
- Enterprise value
- $8M
- Status
- Closed Feb 21, 2025
Deal protections
- Break fee (target pays)
- $1.5M · 3.0%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- TD Cowen, Houlihan Lokey
Sector context · Healthcare
- Comparable deals
- 92 in the prior 24 months
- Premium
- 254.0% vs. 67.0% sector median
- EV / Adj. EBITDA
- Sector median 14.5x
- Break fee
- 3.0% vs. 3.5% sector median
Timeline
- AnnouncedDec 23, 2024
- Proxy filedDec 31, 2024
- Definitive proxyJan 15, 2025
- Shareholder voteFeb 19, 2025
- ClosedFeb 21, 2025
Valuation · fairness opinions
Liquidation$15.71$24.82
Liquidation$12.85$22.03
Discounted cash flow$12.05$29.14
Offer $20.00
Implied value per Singular Genomics Systems, Inc. share by analysis, from Houlihan Lokey · DCF discount rate 25%–35%.