Deerfield to Take Singular Genomics Private in $50.2M Deal

Dow Jones

Dec 23, 2024

By Dean Seal

Singular Genomics Systems has agreed to be acquired and taken private by an affiliate of Deerfield Management for $20 a share.

The deal is valued at $50.2 million based on the company's 2.51 million outstanding shares, according to FactSet. It is expected to close in the first half of next year.

Deerfield submitted a nonbinding proposal to acquire the company back in September, saying at the time that it sought an acquisition at $10 a share. The stock closed at a record low of $5.65 on the same day Deerfield's proposal was made public.

The private-equity firm upped its offer to $24 a share in early November, following negotiations between Deerfield and a special committee of the Singular Genomics board.

The special committee has signed off on the deal announced on Monday, though the transaction is still subject to stockholder approval. If the transaction is completed, Singular Genomics will become a private company.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

December 23, 2024 09:31 ET (14:31 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":"Easy breezy. No more feesies.","description":"Tiger Trade is a mobile trading app offering real time data, low commission fees and a free demo account. Download now to start investing in ETFs, options and the global share market.","keywords":"Tiger Brokers,U.S. stock trading,Hong Kong stock trading,trading U.S. stocks,stock information,stock prices,U.S. stock quotes,U.S. stock trading,Hong Kong stock trading,IPO trading,buying U.S. stocks,global investment","social":{"ogDescription":"Tiger Trade is a mobile trading app offering real time data, low commission fees and a free demo account. Download now to start investing in ETFs, options and the global share market.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2493276513"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"NZL","license":"TBKIWI","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2493276513\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2493276513?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-23 22:31","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2493276513","market":"fut","top_or_hot":-1,"title":"Deerfield to Take Singular Genomics Private in $50.2M Deal","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Dean Seal \n</p>\n<pre>\n \n</pre>\n<p>\n  Singular Genomics Systems has agreed to be acquired and taken private by an affiliate of Deerfield Management for $20 a share. \n</p>\n<p>\n  The deal is valued at $50.2 million based on the company's 2.51 million outstanding shares, according to FactSet. It is expected to close in the first half of next year. \n</p>\n<p>\n  Deerfield submitted a nonbinding proposal to acquire the company back in September, saying at the time that it sought an acquisition at $10 a share. The stock closed at a record low of $5.65 on the same day Deerfield's proposal was made public. \n</p>\n<p>\n  The private-equity firm upped its offer to $24 a share in early November, following negotiations between Deerfield and a special committee of the Singular Genomics board. \n</p>\n<p>\n  The special committee has signed off on the deal announced on Monday, though the transaction is still subject to stockholder approval. If the transaction is completed, Singular Genomics will become a private company. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 23, 2024 09:31 ET (14:31 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>Deerfield to Take Singular Genomics Private in $50.2M Deal</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\">\nDeerfield to Take Singular Genomics Private in $50.2M Deal\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\">2024-12-23 22:31</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 Dean Seal \n</p>\n<pre>\n \n</pre>\n<p>\n  Singular Genomics Systems has agreed to be acquired and taken private by an affiliate of Deerfield Management for $20 a share. \n</p>\n<p>\n  The deal is valued at $50.2 million based on the company's 2.51 million outstanding shares, according to FactSet. It is expected to close in the first half of next year. \n</p>\n<p>\n  Deerfield submitted a nonbinding proposal to acquire the company back in September, saying at the time that it sought an acquisition at $10 a share. The stock closed at a record low of $5.65 on the same day Deerfield's proposal was made public. \n</p>\n<p>\n  The private-equity firm upped its offer to $24 a share in early November, following negotiations between Deerfield and a special committee of the Singular Genomics board. \n</p>\n<p>\n  The special committee has signed off on the deal announced on Monday, though the transaction is still subject to stockholder approval. If the transaction is completed, Singular Genomics will become a private company. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 23, 2024 09:31 ET (14:31 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":"BK4551","symbol_name":"寇图资本持仓","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2493276513","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2493276513","pubTimestamp":1734964260,"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":"Singular Genomics Systems has agreed to be acquired and taken private by an affiliate of Deerfield Management for $20 a share.The deal is valued at $50.2 million based on the company's 2.51 million outstanding shares, according to FactSet. It is expected to close in the first half of next year.Deerfield submitted a nonbinding proposal to acquire the company back in September, saying at the time that it sought an acquisition at $10 a share. The stock closed at a record low of $5.65 on the same day Deerfield's proposal was made public.The private-equity firm upped its offer to $24 a share in early November, following negotiations between Deerfield and a special committee of the Singular Genomics board.The special committee has signed off on the deal announced on Monday, though the transaction is still subject to stockholder approval. If the transaction is completed, Singular Genomics will become a private company.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4551":"寇图资本持仓","OMIC":"Singular Genomics Systems Inc.","BK4539":"次新股","BK4121":"生命科学工具和服务"},"translate_title":"Deerfield将以5020万美元的价格将Singular Genomics私有化","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OMIC":0.9},"content_text":"By Dean Seal \n\n\n \n\n\n  Singular Genomics Systems has agreed to be acquired and taken private by an affiliate of Deerfield Management for $20 a share. \n\n\n  The deal is valued at $50.2 million based on the company's 2.51 million outstanding shares, according to FactSet. It is expected to close in the first half of next year. \n\n\n  Deerfield submitted a nonbinding proposal to acquire the company back in September, saying at the time that it sought an acquisition at $10 a share. The stock closed at a record low of $5.65 on the same day Deerfield's proposal was made public. \n\n\n  The private-equity firm upped its offer to $24 a share in early November, following negotiations between Deerfield and a special committee of the Singular Genomics board. \n\n\n  The special committee has signed off on the deal announced on Monday, though the transaction is still subject to stockholder approval. If the transaction is completed, Singular Genomics will become a private company. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 23, 2024 09:31 ET (14:31 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":"2","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}