OraSure acquires Sherlock Biosciences for $5M upfront plus up to $20M milestones and royalties on CT/NG test

ORASURE TECHNOLOGIES INC

Upfront cash payment of $5M plus legal/insurance costs; merger closed December 19, 2024.
Two milestone payments up to $20M aggregate tied to regulatory approval of Sherlock's CT/NG test.
Quarterly mid-single-digit royalties on CT/NG test net sales through 2034.
Sherlock becomes wholly owned subsidiary; convertible notes, preferred, and common stock receive allocated consideration.
Stock options terminated without payment; financial statements to be filed by amendment within 71 days.

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