Standard BioTools sells SomaLogic to Illumina for up to $425M; expects $550M cash at close

STANDARD BIOTOOLS INC.

Upfront cash payment of $350M at closing plus up to $75M in near-term earnout milestones for total up to $425M.
Retains 2% royalty on Illumina Protein Prep NGS kit sales for 10 years and co-exclusive Single SOMAmer rights.
Transaction simplifies operating structure; expects to achieve adjusted EBITDA break-even post-close.
Pro forma cash & equivalents of at least $550M at close to fund inorganic growth strategy.
Expected close in H1 2026, subject to HSR clearance and other customary conditions.

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