SomaLogic Inc.’s SLGC, -2.54% stock was up about 12% in premarket trades on Wednesday after the Boulder, Colo.-based specialist in cell proteins agreed to be acquired in an all-stock merger with Standard BioTools LAB, -1.10% valued at about $1 billion. Standard BioTools’ stock was down by 7%. SomaLogic shareholders will receive 1.
11 shares of Standard BioTools common stock for each share of SomaLogic common stock. Based on the Tuesday closing price of Standard BioTools of $2.70 a share, the deal valued SomaLogic at just under $3 a share, above its closing price of $2.30 a share on Wednesday. SomaLogic shareholders will own about 57% of the combined company while Standard BioTools shareholders will about 43%.
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