By Katherine Hamilton
Quanterix and Akoya Biosciences amended the terms of their merger due to economic volatility.
Quanterix, a biomarker detection company, will now issue about 7.76 million shares of its common stock to pay $20 million in cash to shareholders of Akoya, a company that provides imaging to scientists.
Quanterix will issue over 9 million fewer shares than under the original deal terms and shareholders will own about 84% of the combined company. It previously planned to own 70% of the combined company. Akoya shareholders will own about 16%. Each Akoya share will receive 38 cents and about 0.15 shares of Qanterix common stock.
The companies re-engaged to discuss the deal's terms in light of recent volatility, Quanterix Chief Executive Masoud Toloue said.
"The strategic merits of the transaction remain strong even as the market has been focused on academic funding and tariff concerns," Toloue said.
Shares of Akoya fell 5% to $1.25 in premarket trading Tuesday, continuing a 43% slide this year. Quanterix stock advanced 3% to $5.96, but is still down 46% this year.
The two Massachusetts companies announced the deal in January and it is expected to close during the second quarter.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
April 29, 2025 08:07 ET (12:07 GMT)
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