Standard BioTools Inc. Files 8-K on Exit Costs

TL;DR

Standard BioTools (LAB) filed an 8-K detailing exit/disposal costs - watch for restructuring news.

AI Summary

Standard BioTools Inc. filed an 8-K on April 25, 2024, reporting on events as of April 19, 2024. The filing indicates costs associated with exit or disposal activities and includes Regulation FD disclosures, along with financial statements and exhibits. The company, formerly known as Fluidigm Corp, is incorporated in Delaware and based in South San Francisco, California.

Why It Matters

This filing signals potential restructuring or divestitures by Standard BioTools Inc., which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — Filings related to exit or disposal activities often indicate significant business changes or financial challenges that could affect the company's stock price.

Key Players & Entities

• Standard BioTools Inc. (company) — Registrant
• Fluidigm Corp (company) — Former company name
• Delaware (jurisdiction) — State of incorporation
• South San Francisco, California (location) — Business address
• April 19, 2024 (date) — Earliest event date
• April 25, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share LAB Nasdaq Glob
• $10 million — ts, to be in the range of approximately $10 million to $11 million, which includes approxim
• $11 m — e range of approximately $10 million to $11 million, which includes approximately $4
• $4 million — 1 million, which includes approximately $4 million of non-cash expenses related to vesting

Filing Documents

• tm249061d2_8k.htm (8-K) — 29KB
• tm249061d2_ex99-1.htm (EX-99.1) — 17KB
• 0001104659-24-051640.txt ( ) — 223KB
• lab-20240419.xsd (EX-101.SCH) — 3KB
• lab-20240419_lab.xml (EX-101.LAB) — 33KB
• lab-20240419_pre.xml (EX-101.PRE) — 22KB
• tm249061d2_8k_htm.xml (XML) — 4KB

05. Costs Associated with Exit or Disposal Activities

Item 2.05. Costs Associated with Exit or Disposal Activities. On April 25, 2024, Standard BioTools Inc. (the "Company") announced a reduction-in-force of approximately 10% of its total workforce, including the elimination of certain senior management positions following the closing of the Company's merger with SomaLogic, Inc., as part of an operational restructuring plan. The purpose of the restructuring plan, including the reduction-in-force, is to improve operational efficiency and reduce operating costs, while supporting the execution of the Company's long-term strategic plan. The Company currently expects expenses related to the reduction-in-force, consisting primarily of cash severance and termination benefits and related costs, to be in the range of approximately $10 million to $11 million, which includes approximately $4 million of non-cash expenses related to vesting of share-based awards. The Company expects these costs to be payable over the next three quarters. These estimates are subject to a number of assumptions, and actual results may differ. The Company may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the operational restructuring plan, including the reduction-in-force.

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On April 25, 2024, the Company issued a press release announcing the operational restructuring plan, including the reduction-in-force. A copy of the press release is furnished hereto as Exhibit 99.1. The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being "furnished" and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and shall not be incorporated by reference in any filing under the Exchange Act, or the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such future filing. Cautionary Note Regarding Forward-Looking This Current Report on Form 8-K contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements related to the expected costs and timing associated with reduction-in-force and expected reductions of operating expenses. These forward-looking statements are based on the Company's current expectations and inherently involve significant risks and uncertainties. The Company's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to cost reduction efforts. In addition, the Company's costs may be greater than anticipated and the workforce and operating expense reductions may have an adverse impact on the Company's sales and development activities. Additionally, these forward-looking statements should be considered in conjunction with the cautionary statements and risk factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and its other filings filed from time to time with the Securities and Exchange Commission. The Company does not assume a

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Standard BioTools Inc. Press Release dated April 25, 2024. 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Standard BioTools Inc. Date: April 25, 2024 By: /s/ Jeffrey Black Jeffrey Black Chief Financial Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR