Standard BioTools Sells Fluidigm to Revvity for $335M
Ticker: LAB · Form: 8-K · Filed: Jun 3, 2024 · CIK: 1162194
| Field | Detail |
|---|---|
| Company | Standard Biotools Inc. (LAB) |
| Form Type | 8-K |
| Filed Date | Jun 3, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: divestiture, acquisition, strategic-shift
Related Tickers: RVTY
TL;DR
Standard BioTools selling Fluidigm to Revvity for $335M cash. Deal expected Q3 2024.
AI Summary
Standard BioTools Inc. announced on May 31, 2024, that it has entered into a definitive agreement to sell its Fluidigm business to Revvity, Inc. for $335 million in cash. This strategic divestiture is expected to close in the third quarter of 2024, subject to customary closing conditions.
Why It Matters
This sale represents a significant strategic shift for Standard BioTools, allowing it to focus on its core technologies and potentially unlock shareholder value. For Revvity, it signifies an expansion of its life science portfolio.
Risk Assessment
Risk Level: medium — The transaction is subject to customary closing conditions, and there's always a risk of regulatory hurdles or unforeseen issues that could delay or prevent the deal from closing.
Key Numbers
- $335M — Sale Price (Cash consideration for the sale of Fluidigm business to Revvity, Inc.)
Key Players & Entities
- Standard BioTools Inc. (company) — Seller
- Fluidigm (company) — Divested Business Unit
- Revvity, Inc. (company) — Acquirer
- $335 million (dollar_amount) — Sale price
- May 31, 2024 (date) — Agreement date
- Q3 2024 (date) — Expected closing period
FAQ
What is the primary reason for Standard BioTools selling its Fluidigm business?
The filing indicates this is a strategic divestiture, suggesting Standard BioTools aims to focus on its core technologies.
Who is the acquiring company?
Revvity, Inc. is acquiring the Fluidigm business.
What is the total value of the transaction?
The definitive agreement is for $335 million in cash.
When is the transaction expected to close?
The sale is expected to close in the third quarter of 2024.
What are the conditions for closing the sale?
The transaction is subject to customary closing conditions.
Filing Stats: 422 words · 2 min read · ~1 pages · Grade level 12.4 · Accepted 2024-06-03 06:05:51
Key Financial Figures
- $0.001 — nge on which registered Common stock, $0.001 par value per share LAB Nasdaq Glob
Filing Documents
- tm2416243d1_8k.htm (8-K) — 23KB
- 0001104659-24-067384.txt ( ) — 192KB
- lab-20240531.xsd (EX-101.SCH) — 3KB
- lab-20240531_lab.xml (EX-101.LAB) — 33KB
- lab-20240531_pre.xml (EX-101.PRE) — 22KB
- tm2416243d1_8k_htm.xml (XML) — 4KB
01 – Other Events
Item 8.01 – Other Events On May 31, 2024, Madryn Health Partners (Cayman Master), LP, an entity affiliated with Madryn Asset Management, provided notice to Standard BioTools Inc. (the "Company") that it has irrevocably withdrawn its March 15, 2024 notice of its intent to nominate director candidates and submit a business proposal at the Company's upcoming 2024 annual meeting of stockholders, as described in the Company's definitive proxy statement filed with the U.S. Securities and Exchange Commission on May 21, 2024. The Company intends to distribute to stockholders a revised proxy card reflecting such withdrawal.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: June 3, 2024 STANDARD BIOTOOLS INC. By: /s/ Jeffrey Black Name: Jeffrey Black Title: Chief Financial Officer