Singular Genomics Systems Receives $10/shr Acquisition Proposal From Deerfield; Stock Surges

(RTTNews) - Singular Genomics Systems Inc. (OMIC) announced that it has received a non-binding proposal from Deerfield Management Company, L.P. and certain affiliated funds, to acquire all of the Company's outstanding shares of common stock that are not already owned by Deerfield for $10.00 per share in cash.

OMIC closed Thursday's regular trading at $5.65 up $0.15 or 2.73%. In the after-hours trading the stock further gained $3.81 or 67.43%.

According to the company, Deerfield, an existing stockholder of the Company, indicated in its letter that it intends to invite other major stockholders and existing management to rollover their shares of common stock into the new company.

Singular Genomics said that the company and the Special Committee do not intend to comment further about Deerfield's proposal unless and until the Special Committee deems further disclosure is appropriate.