|
Delaware
(State or other jurisdiction of
incorporation or organization) |
| |
3826
(Primary Standard Industrial
Classification Code Number) |
| |
77-0513190
(I.R.S. Employer
Identification No.) |
|
|
William C. Hicks, Esq.
Matthew J. Gardella, Esq. Matthew W. Tikonoff, Esq. John T. Rudy, Esq. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. One Financial Center Boston, MA 02111 (617) 542-6000 |
| |
Adam Taich
Interim Chief Executive Officer SomaLogic, Inc. 2945 Wilderness Place Boulder, CO 80301 (303) 625-9000 |
| |
Ethan Skerry, Esq.
David Michaels, Esq. Julia Forbess, Esq. Fenwick & West LLP 902 Broadway New York, NY 10010 (212) 430-2600 |
|
|
Large accelerated filer
☐
|
| |
Accelerated filer
☒
|
|
|
Non-accelerated filer
☐
|
| |
Smaller reporting company
☒
|
|
| | | |
Emerging growth company
☐
|
|
|
Carlos Paya
Chairperson of the Board Standard BioTools Inc. |
| |
Jason Ryan
Chairperson of the Board SomaLogic, Inc. |
|
|
Standard BioTools Inc.
2 Tower Place, Suite 2000 South San Francisco, CA 94080 Attention: Corporate Secretary Telephone: (650) 266-6000 |
| |
SomaLogic, Inc.
2945 Wilderness Place Boulder, CO 80301 Attention: General Counsel Telephone: (303) 625-9000 |
|
|
or
|
| |
or
|
|
|
![]() |
| |
![]() |
|
|
200 Broadacres Dr., 3rd Floor
Bloomfield, NJ 07003 Toll-Free: 800-574-5969 Email: LAB@AllianceAdvisors.com |
| |
430 Park Avenue, 14th Floor
New York, NY 10022 Toll-Free: (800) 662-5200 Email: SLGC@info.morrowsodali.com |
|
| | |
Page
|
| |||
| | | | 1 | | | |
| | | | 15 | | | |
| | | | 15 | | | |
| | | | 15 | | | |
| | | | 15 | | | |
| | | | 15 | | | |
| | | | 15 | | | |
| | | | 16 | | | |
| | | | 16 | | | |
| | | | 17 | | | |
| | | | 17 | | | |
| | | | 17 | | | |
| | | | 18 | | | |
| | | | 18 | | | |
| | | | 19 | | | |
| | | | 19 | | | |
| | | | 20 | | | |
| | | | 20 | | | |
| | | | 21 | | | |
| | | | 21 | | | |
| | | | 22 | | | |
| | | | 23 | | | |
| | | | 23 | | | |
| | | | 23 | | | |
| | | | 24 | | | |
| | | | 24 | | | |
| | | | 24 | | | |
| | | | 24 | | | |
| | | | 25 | | | |
| | | | 27 | | | |
| | | | 29 | | | |
| | | | 29 | | | |
| | | | 30 | | | |
| | | | 31 | | | |
| | | | 31 | | | |
| | | | 39 | | | |
| | | | 43 | | | |
| | | | 45 | | | |
| | | | 45 | | | |
| | | | 46 | | |
| | |
Page
|
| |||
| | | | 48 | | | |
| | | | 48 | | | |
| | | | 48 | | | |
| | | | 48 | | | |
| | | | 48 | | | |
| | | | 48 | | | |
| | | | 48 | | | |
| | | | 49 | | | |
| | | | 49 | | | |
| | | | 49 | | | |
| | | | 49 | | | |
| | | | 50 | | | |
| | | | 51 | | | |
| | | | 51 | | | |
| | | | 51 | | | |
| | | | 52 | | | |
| | | | 52 | | | |
| | | | 52 | | | |
| | | | 52 | | | |
| | | | 53 | | | |
| | | | 53 | | | |
| | | | 54 | | | |
| | | | 55 | | | |
| | | | 55 | | | |
| | | | 55 | | | |
| | | | 55 | | | |
| | | | 55 | | | |
| | | | 55 | | | |
| | | | 55 | | | |
| | | | 56 | | | |
| | | | 56 | | | |
| | | | 57 | | | |
| | | | 57 | | | |
| | | | 57 | | | |
| | | | 58 | | | |
| | | | 59 | | | |
| | | | 59 | | | |
| | | | 59 | | | |
| | | | 59 | | | |
| | | | 59 | | | |
| | | | 60 | | | |
| | | | 61 | | | |
| | | | 61 | | |
| | |
Page
|
| |||
| | | | 62 | | | |
| | | | 64 | | | |
| | | | 65 | | | |
| | | | 75 | | | |
| | | | 76 | | | |
| | | | 76 | | | |
| | | | 76 | | | |
| | | | 76 | | | |
| | | | 93 | | | |
| | | | 97 | | | |
| | | | 101 | | | |
| | | | 103 | | | |
| | | | 109 | | | |
| | | | 113 | | | |
| | | | 116 | | | |
| | | | 121 | | | |
| | | | 123 | | | |
| | | | 130 | | | |
| | | | 135 | | | |
| | | | 135 | | | |
| | | | 136 | | | |
| | | | 136 | | | |
| | | | 137 | | | |
| | | | 138 | | | |
| | | | 141 | | | |
| | | | 141 | | | |
| | | | 141 | | | |
| | | | 143 | | | |
| | | | 144 | | | |
| | | | 144 | | | |
| | | | 144 | | | |
| | | | 144 | | | |
| | | | 145 | | | |
| | | | 147 | | | |
| | | | 148 | | | |
| | | | 151 | | | |
| | | | 151 | | | |
| | | | 153 | | | |
| | | | 153 | | | |
| | | | 156 | | |
| | |
Page
|
| |||
| | | | 157 | | | |
| | | | 158 | | | |
| | | | 159 | | | |
| | | | 160 | | | |
| | | | 162 | | | |
| | | | 162 | | | |
| | | | 162 | | | |
| | | | 162 | | | |
| | | | 163 | | | |
| | | | 178 | | | |
| | | | 178 | | | |
| | | | 178 | | | |
| | | | 178 | | | |
| | | | 183 | | | |
| | | | 184 | | | |
| | | | 184 | | | |
| | | | 186 | | | |
| | | | 198 | | | |
| | | | 201 | | | |
| | | | 205 | | | |
| | | | 205 | | | |
| | | | 206 | | | |
| | | | 208 | | | |
| | | | 209 | | | |
| | | | 210 | | | |
| | | | 211 | | | |
| | | | A-1 | | | |
| | | | B-1 | | | |
| | | | C-1 | | | |
| | | | D-1 | | | |
| | | | E-1 | | |
|
For Standard BioTools stockholders:
Alliance Advisors, LLC 200 Broadacres Drive, 3rd Floor Bloomfield, NJ 07003 Toll-Free: (800) 574-5969 Email: LAB@AllianceAdvisors.com |
| |
For SomaLogic stockholders:
Morrow Sodali LLC 430 Park Avenue, 14th Floor New York, NY 10022 Toll-Free: (800) 662-5200 Email: SLGC@info.morrowsodali.com |
|
Name
|
| |
Title
|
|
Michael Egholm, Ph.D. | | | President and Chief Executive Officer | |
Jeffrey Black | | | Chief Financial Officer | |
Hanjoon Alex Kim | | | Chief Operating Officer | |
(in millions)
|
| |
As of September 30,
2023 |
| |||
Pro Forma Combined Balance Sheet Data: | | | | | | | |
Total Assets
|
| | | $ | 890,029 | | |
Total Liabilities
|
| | | | 241,221 | | |
Total Mezzanine Equity
|
| | | | 311,253 | | |
Total Stockholders’ Equity
|
| | | $ | 337,555 | | |
(in millions, except per share data)
|
| |
Nine Months
Ended September 30, 2023 |
| |
Year Ended
December 31, 2022 |
| ||||||
Pro Forma Combined Statement of Operations Data: | | | | | | | | | | | | | |
Total Revenue
|
| | | $ | 141,047 | | | | | $ | 195,614 | | |
Operating Loss
|
| | | | (145,966) | | | | | | (282,608) | | |
Net Loss
|
| | | | (129,289) | | | | | | (293,987) | | |
Net Loss Per Share, Basic
|
| | | | (0.45) | | | | | | (1.02) | | |
Net Loss Per Share, Diluted
|
| | | $ | (0.45) | | | | | $ | (1.02) | | |
| | |
SomaLogic, Inc.
|
| |
Standard BioTools Inc.
|
| ||||||||||||||||||
| | |
Historical
|
| |
Pro Forma
Equivalent(1) |
| |
Historical
|
| |
Pro Forma
Combined |
| ||||||||||||
Net loss per share attributable to common stockholders | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic | | | | | | | | | | | | | | | | | | | | | | | | | |
Nine Months Ended September 30, 2023
|
| | | $ | (0.43) | | | | | $ | (0.50) | | | | | $ | (0.69) | | | | | $ | (0.45) | | |
Year Ended December 31, 2022
|
| | | | (0.59) | | | | | | (1.13) | | | | | | (2.43) | | | | | | (1.02) | | |
Diluted | | | | | | | | | | | | | | | | | | | | | | | | | |
Nine Months Ended September 30, 2023
|
| | | | (0.43) | | | | | | (0.50) | | | | | | (0.69) | | | | | | (0.45) | | |
Year Ended December 31, 2022
|
| | | | (0.59) | | | | | | (1.13) | | | | | | (2.43) | | | | | | (1.02) | | |
Book Value Per Share | | | | | | | | | | | | | | | | | | | | | | | | | |
September 30, 2023
|
| | | $ | 2.70 | | | | | $ | 2.50 | | | | | $ | 2.27 | | | | | $ | 2.25 | | |
| | |
Standard BioTools
Common Stock |
| |
SomaLogic
Common Stock |
| ||||||||||||||||||
| | |
High
|
| |
Low
|
| |
High
|
| |
Low
|
| ||||||||||||
2021: | | | | | | | | | | | | | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 7.50 | | | | | $ | 4.57 | | | | | $ | — | | | | | $ | — | | |
Second Quarter(1)
|
| | | $ | 6.61 | | | | | $ | 4.03 | | | | | $ | 14.39 | | | | | $ | 10.23 | | |
Third Quarter
|
| | | $ | 7.51 | | | | | $ | 5.40 | | | | | $ | 13.98 | | | | | $ | 9.83 | | |
Fourth Quarter
|
| | | $ | 6.65 | | | | | $ | 3.59 | | | | | $ | 14.72 | | | | | $ | 10.06 | | |
2022: | | | | | | | | | | | | | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 4.19 | | | | | $ | 2.67 | | | | | $ | 11.89 | | | | | $ | 7.02 | | |
Second Quarter
|
| | | $ | 4.23 | | | | | $ | 1.57 | | | | | $ | 8.49 | | | | | $ | 4.20 | | |
Third Quarter
|
| | | $ | 2.07 | | | | | $ | 0.92 | | | | | $ | 5.60 | | | | | $ | 2.85 | | |
Fourth Quarter
|
| | | $ | 1.57 | | | | | $ | 0.92 | | | | | $ | 3.55 | | | | | $ | 2.02 | | |
2023: | | | | | | | | | | | | | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 2.38 | | | | | $ | 1.16 | | | | | $ | 3.79 | | | | | $ | 1.98 | | |
Second Quarter
|
| | | $ | 2.65 | | | | | $ | 1.46 | | | | | $ | 3.55 | | | | | $ | 2.01 | | |
Third Quarter
|
| | | $ | 3.16 | | | | | $ | 1.88 | | | | | $ | 2.54 | | | | | $ | 1.93 | | |
Fourth Quarter (through October 15, 2023)
|
| | | $ | 2.97 | | | | | $ | 1.58 | | | | | $ | 2.47 | | | | | $ | 1.73 | | |
| | |
Standard
BioTools Common Stock |
| |
SomaLogic
Common Stock |
| |
Implied Value
of Merger Consideration |
| |||||||||
October 3, 2023
|
| | | $ | 2.70 | | | | | $ | 2.30 | | | | | $ | 3.00 | | |
| | | | $ | | | | | $ | | | | | $ | | | |
Annual Share Usage Average
|
| |
2020
|
| |
2021
|
| |
2022
|
| |
Three-Year
|
| ||||||||||||
Stock options granted
|
| | | | 117,202 | | | | | | 92,412 | | | | | | 7,809,969 | | | | | | 2,673,194 | | |
Non-performance RSUs granted
|
| | | | 3,787,648 | | | | | | 3,294,511 | | | | | | 6,769,474 | | | | | | 4,617,211 | | |
Non-performance RSUs vested
|
| | | | 1,139,053 | | | | | | 2,225,372 | | | | | | 2,462,553 | | | | | | 1,942,326 | | |
Performance-based stock options granted
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Performance-based RSUs granted
|
| | | | 509,082 | | | | | | 416,442 | | | | | | — | | | | | | 308,508 | | |
Performance-based RSUs vested
|
| | | | 3,957 | | | | | | 133,484 | | | | | | — | | | | | | 45,814 | | |
Total equity awards granted(1)
|
| | | | 4,413,932 | | | | | | 3,803,365 | | | | | | 14,579,443 | | | | | | 7,598,913 | | |
Basic weighted average shares of common stock outstanding as of December 31
|
| | | | 72,043,755 | | | | | | 75,785,857 | | | | | | 78,304,653 | | | | | | 75,378,088 | | |
Annual share usage
|
| | | | 3,561,210 | | | | | | 2,863,922 | | | | | | 9,973,647 | | | | | | 5,466,260 | | |
|
Total stock options outstanding(1)
|
| | | |