Tang's Concentra Biosciences offers to buy Singular Genomics for $12 per share
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 19 2024
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Acquisition Proposal: Kevin Tang, through Concentra Biosciences, LLC, has proposed to acquire all outstanding shares of Singular Genomics Systems at $12.00 per share, representing a 112% premium over the recent stock price, offering shareholders immediate liquidity or a chance to participate in future business value via a contingent value right (CVR).
Transaction Details: The acquisition would be fully financed by Tang Capital without financing conditions, and aims for a swift completion through a two-step merger process, allowing Singular Genomics to operate privately without the burdens of being publicly traded.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
