Biotech Values

[DewDiligence]

BLI acquires ISO in all-stock deal valued at $1.28/sh* based on BLI’s AH-session price of $2.09—an 85% premium to ISO’s 4pm-ET closing price today, but a small fraction of ISO’s 2021 IPO price of $15.00 (#msg-166279122):

https://www.globenewswire.com/news-release/2022/12/21/2578263/0/en/Berkeley-Lights-to-Acquire-IsoPlexis-Creating-a-Premier-Functional-Cell-Biology-Company.html

After the merger, the company will be renamed PhenomeX and will trade on Nasdaq with the symbol, “CELL.” The nominal deal value is $58M.

*The exchange ratio is 0.612 shares of BLI for each share of ISO.