Singular Genomics Shares Soar After Deerfield Increases Acquisition Offer

Dow Jones

Nov 05, 2024

By Connor Hart

Shares of Singular Genomics Systems jumped after private-equity firm Deerfield Management offered to pay a higher price per share in its non-binding acquisition proposal.

Singular Genomics stock rose 60%, to $21.60, in Monday afternoon trading. Shares, which have nearly tripled in the last three months, are up 54% since the beginning of the year.

Deerfield now plans to acquire all shares of Singular Genomics's common stock that it doesn't already own for $24 each, the San Diego life-science company said in regulatory filing. Deerfield in September had offered to acquire the shares for $10 each.

The higher bid comes after a series of negotiations between Deerfield and a special committee of the Singular Genomics's board that had already been formed to consider strategic alternatives.

The companies have entered into an exclusivity agreement to facilitate completion of Deerfield's due diligence, as well as the proposed sale's preparation and negotiation of definitive agreements, according to the filing. However, there is still no guarantee that the acquisition will go through.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 04, 2024 14:39 ET (19:39 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

LOGIN / SIGN UP

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers HK | Online Trading in stocks, bonds & ETFS","description":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","keywords":"tiger trading,tiger security,tiger broker hk,tigers co ltd,tiger trade hk,tiger brokers hk,stock broker,securities broker,online brokerage,hong kong broker,hk broker,online stock trading,online trading platform,stock trading platforms,trading application,stock trading,stock trading hong kong,buying stocks in hong kong,tiger brokers","social":{"ogDescription":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2481555465"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"HKG","license":"TBHK","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2481555465\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2481555465?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-05 03:39","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2481555465","market":"fut","top_or_hot":-1,"title":"Singular Genomics Shares Soar After Deerfield Increases Acquisition Offer","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Connor Hart \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of Singular Genomics Systems jumped after private-equity firm Deerfield Management offered to pay a higher price per share in its non-binding acquisition proposal. \n</p>\n<p>\n  Singular Genomics stock rose 60%, to $21.60, in Monday afternoon trading. Shares, which have nearly tripled in the last three months, are up 54% since the beginning of the year. \n</p>\n<p>\n  Deerfield now plans to acquire all shares of Singular Genomics's common stock that it doesn't already own for $24 each, the San Diego life-science company said in regulatory filing. Deerfield in September had offered to acquire the shares for $10 each. \n</p>\n<p>\n  The higher bid comes after a series of negotiations between Deerfield and a special committee of the Singular Genomics's board that had already been formed to consider strategic alternatives. \n</p>\n<p>\n  The companies have entered into an exclusivity agreement to facilitate completion of Deerfield's due diligence, as well as the proposed sale's preparation and negotiation of definitive agreements, according to the filing. However, there is still no guarantee that the acquisition will go through. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 04, 2024 14:39 ET (19:39 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singular Genomics Shares Soar After Deerfield Increases Acquisition Offer</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingular Genomics Shares Soar After Deerfield Increases Acquisition Offer\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-05 03:39</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Connor Hart \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of Singular Genomics Systems jumped after private-equity firm Deerfield Management offered to pay a higher price per share in its non-binding acquisition proposal. \n</p>\n<p>\n  Singular Genomics stock rose 60%, to $21.60, in Monday afternoon trading. Shares, which have nearly tripled in the last three months, are up 54% since the beginning of the year. \n</p>\n<p>\n  Deerfield now plans to acquire all shares of Singular Genomics's common stock that it doesn't already own for $24 each, the San Diego life-science company said in regulatory filing. Deerfield in September had offered to acquire the shares for $10 each. \n</p>\n<p>\n  The higher bid comes after a series of negotiations between Deerfield and a special committee of the Singular Genomics's board that had already been formed to consider strategic alternatives. \n</p>\n<p>\n  The companies have entered into an exclusivity agreement to facilitate completion of Deerfield's due diligence, as well as the proposed sale's preparation and negotiation of definitive agreements, according to the filing. However, there is still no guarantee that the acquisition will go through. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 04, 2024 14:39 ET (19:39 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4539","symbol_name":"次新股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481555465","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481555465","pubTimestamp":1730749140,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Singular Genomics Systems jumped after private-equity firm Deerfield Management offered to pay a higher price per share in its non-binding acquisition proposal.Singular Genomics stock rose 60%, to $21.60, in Monday afternoon trading. Shares, which have nearly tripled in the last three months, are up 54% since the beginning of the year.Deerfield now plans to acquire all shares of Singular Genomics's common stock that it doesn't already own for $24 each, the San Diego life-science company said in regulatory filing. Deerfield in September had offered to acquire the shares for $10 each.The higher bid comes after a series of negotiations between Deerfield and a special committee of the Singular Genomics's board that had already been formed to consider strategic alternatives.The companies have entered into an exclusivity agreement to facilitate completion of Deerfield's due diligence, as well as the proposed sale's preparation and negotiation of definitive agreements, according to ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4539":"次新股","OMIC":"Singular Genomics Systems Inc.","BK4551":"寇图资本持仓","BK4121":"生命科学工具和服务"},"translate_title":"Deerfield提高收购要约后Singular Genomics股价飙升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OMIC":0.9},"content_text":"By Connor Hart \n\n\n \n\n\n  Shares of Singular Genomics Systems jumped after private-equity firm Deerfield Management offered to pay a higher price per share in its non-binding acquisition proposal. \n\n\n  Singular Genomics stock rose 60%, to $21.60, in Monday afternoon trading. Shares, which have nearly tripled in the last three months, are up 54% since the beginning of the year. \n\n\n  Deerfield now plans to acquire all shares of Singular Genomics's common stock that it doesn't already own for $24 each, the San Diego life-science company said in regulatory filing. Deerfield in September had offered to acquire the shares for $10 each. \n\n\n  The higher bid comes after a series of negotiations between Deerfield and a special committee of the Singular Genomics's board that had already been formed to consider strategic alternatives. \n\n\n  The companies have entered into an exclusivity agreement to facilitate completion of Deerfield's due diligence, as well as the proposed sale's preparation and negotiation of definitive agreements, according to the filing. However, there is still no guarantee that the acquisition will go through. \n\n\n \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 04, 2024 14:39 ET (19:39 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}