Singular Genomics (OMIC, Financial) shares rose 61% today and the latest press release was on September 19, 2024. The press release said that the life science company received a non-binding proposal from Concentra Biosciences and Tang Capital to purchase OMIC shares for $12 per share.
Similarly on September 12, 2024 the company also announced the same news that Deerfield Management offered a non-binding proposal to acquire all OMIC shares that they don't already own for $10 per share. As of today the stock is traded at $21.76 per share, up $8.3 or 61% from yesterday. The current price is significantly higher than the offered price from Concentra, Tang or Deerfield.
From the official website of Singular Genomics the company made a statement to Concentra and Tang's plan to purchase their shares: “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.” Meaning that there is no guarantee that the proposed acquisition by Concentra will actually happen.
In the press release page informing about Deerfiled's shares purchase plan, the company also made the same statement: “There can be no assurance that any transaction will be consummated, whether involving Deerfield or any other party. The Company and the Special Committee do not intend to comment further about Deerfield's proposal unless and until the Special Committee deems further disclosure is appropriate.” Meaning that the companies involved are not obligated to follow through with the deal. There's no guarantee a deal will happen, whether with Deerfield or another party.
