CM Life Sciences II Stockholders Approve SomaLogic Deal

CM Life Sciences II

CM Life Sciences II in an 8-K filing said its stockholders approved the proposed merger with SomaLogic.

The results show 92% of voted shares were in support of the deal. There was no mention of any redemptions, although the SPAC has consistently traded well above $11 since the deal was announced in March and only dipped below $10 in the last couple of weeks. The stock closed yesterday, the day of the vote, at $11.30.

As announced, the $651 million deal included a fully committed PIPE of $375 million from both new and existing investors including Casdin Capital, Corvex Management, Janus Henderson Investors, SB Management, a subsidiary of SoftBank Group Corp, T.Rowe Price Associates, separate accounts advised by ARK Invest, Farallon Capital, Perceptive Advisors, funds and accounts managed by Counterpoint Global (Morgan Stanley), a new strategic investor Illumina, and an existing strategic investor, Novartis Pharma AG.

The combined company would have an enterprise value of $1.23 billion, assuming no redemptions.

SomaLogic is a commercial stage proteomics company with over 300 established industry partnerships and customers. Read more.

Related Posts