Fluidigm secures $250M in loans and convertible preferred equity; CEO to resign

STANDARD BIOTOOLS INC.

$25M term loans from Casdin and Viking at 10-16% interest, convertible into Series B preferred, subordinated to SVB loan.
$225M private placement of Series B-1/B-2 convertible preferred stock (112,500 shares each at $1,000/share) to Casdin and Viking, subject to stockholder approval.
CEO Stephen Christopher Linthwaite to resign at closing or by May 15, 2022; will receive $1.19M severance plus COBRA and outplacement.
Proceeds for working capital, general corporate purposes, and potential M&A.
Each investor gets a board seat with consent rights on major decisions including CEO hiring and M&A over $50M.

item 1.01 item 2.03 item 3.02 item 3.03 item 5.02 item 5.03 item 8.01 item 9.01

Executive movements

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Departed

Stephen Christopher Linthwaite

President and Chief Executive Officer

LAB · STANDARD BIOTOOLS INC.

Filed: January 24, 2022, 6:59 PM ET

Stephen Christopher Linthwaite, the Company’s President and Chief Executive Officer and a member of the Board, will resign on the terms described below.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Stephen Christopher Linthwaite resigned as President and Chief Executive Officer at STANDARD BIOTOOLS INC..

Action: resigned
Role: President and Chief Executive Officer

Exact text from the filing

Stephen Christopher Linthwaite, the Company’s President and Chief Executive Officer and a member of the Board, will resign on the terms described below.

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STANDARD BIOTOOLS INC. filing history →

Source: SEC EDGAR

accession 0001193125-22-016151

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