Singular Genomics Systems, Inc. (OMIC) entered a merger agreement on December 23, 2024, to be acquired by Deerfield Management in an all-cash deal valued at about $48.06 million.
As per the terms of the merger agreement, an affiliate of Deerfield will acquire Singular Genomics in an all-cash transaction for $20.00 per share, representing a premium of 2.30% from the stock’s last close.
Singular Genomics is a life science technology company that develops next-generation sequencing and multiomics platforms, including the G4 Sequencing Platform and G4X Spatial Sequencer, to empower researchers and clinicians in advancing science and medicine.
Deerfield is an American investment firm headquartered in New York City, specializing in public and private investments within the healthcare and biotechnology sectors.
Singular Genomics had received an offer from Deerfield for $10 a share in September. The company was trading at $5.65 per share before the offer was made.
The deal is expected to close in the first half of 2025.
In terms of valuation, Deerfield is acquiring Singular Genomics at 18.20 times its sales.
For more comprehensive details about this merger and acquisition transaction, please refer to the Deal Metrics page:
The Deal Metrics page includes the following information:
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Editor’s Note: Baranjot Kaur contributed to this article