CM Life Sciences said in an 8-K filing it would restate financial reports to align with the regulator’s position.
“Going forward, unless we amend the terms of our warrant agreement, we expect to continue to classify our warrants as liabilities, which would require us to incur the cost of measuring the fair value of the warrant liabilities, and which may have an adverse effect on our results of operations,” the SPAC said in the filing.
CM Life Sciences is in a pending merger with Sema4, an AI- and machine learning-driven patient-centered genomic and clinical data intelligence company. The combination is expected to provide up to $793 million in cash proceeds to shareholders and Sema4.
Pending shareholder approval, upon closing the combined company’s common stock will list on the Nasdaq under a name and a ticker symbol to be announced.
The SPAC is led by CEO Eli Casdin, founder of Casdin Capital, an investment firm focused on the life sciences and healthcare industry. Read more.
