Singular Genomics Systems, a company leveraging novel next-generation sequencing (NGS) and spatial multiomics technologies to empower researchers and clinicians, announced today that it has received an unsolicited non-binding proposal from Concentra Biosciences, LLC (“Concentra”) to acquire all of the Company’s outstanding shares of common stock for $12.00 per share in cash.

As alternative consideration, Concentra stated that it would consider, assuming it receives sufficient interest from existing stockholders, inviting interested stockholders to elect to continue to participate in any future value realized from the Company’s ongoing business by receiving a contingent value right in lieu of receiving $12.00 per share in cash.   

According to a Schedule 13D filed on September 19, 2024 with the U.S. Securities and Exchange Commission (the “SEC”) disclosing Concentra’s proposal, Tang Capital is the controlling stockholder of Concentra and beneficially owns approximately 14.9% of the Company’s outstanding common stock.

As previously disclosed, the Company’s board of directors previously formed a special committee of independent directors (the “Special Committee”) to evaluate and consider the Company’s strategic alternatives, which would include the proposal submitted by Concentra as well as other proposals that have been or may be submitted to the Special Committee.

There can be no assurance that any transaction will be consummated, whether involving Concentra or any other party. The Company and the Special Committee do not intend to comment further about Concentra’s proposal unless and until the Special Committee deems further disclosure is appropriate.