Why Has The IsoPlexis (ISO) Stock Price Gained 59% In Extended Session?

After receiving a buyout offer, shares of IsoPlexis Corporation (NASDAQ: ISO) were up 59.40% to trade at $1.10 at the time of the latest check.

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Who has offered to purchase ISO?

IsoPlexis (ISO) signed a firm agreement with life sciences toolmaker Berkeley Lights (BLI), under which Berkeley Lights would buy IsoPlexis in an all-stock deal worth $57.8 million. The merged business will be known as PhenomeX (Nasdaq: CELL), and it will be a leading functional cell biology provider with live cell biology research tools that offer fresh views on phenomes and great insights into cellular function.

The merger of these two businesses will create a market frontrunner in practical cell biology through their creative ideas. A top-tier team with complementary cultures and competencies will lead the new firm to success for customers and shareholders.

How will the combined firm proceed?

The goal of PhenomeX, which combines Berkeley Lights and ISO, is to enable scientists to take full use of functional cell biology and influence the coming scientific revolution. By participating in a larger cell biology market with a variety of tools and services and by cross-selling opportunities to both current and potential customers, as well as by empowering significant productivity through combined R&D, G&A, supply chain/manufacturing infrastructure, and Merger and acquisitions prospects that will increase advance profitable growth and leverage a combined cost structure, a framework for further integration in high-growth functional cell biology tools is being created.

By 2024, the merged business expects to achieve cost savings of around $70 million yearly, which will boost profitability and shorten the time it takes to break even. By 2024, the new business is anticipated to have positive operational working capital at $150 million in sales, which is sooner than Berkeley Lights was anticipated to do on its own.

How will ISO carry out the transaction?

The deal is anticipated to conclude in the first quarter of 2023, pending shareholder approval from both Berkeley Lights and IsoPlexis as well as the fulfillment of other standard closing requirements. According to the terms of the deal, each IsoPlexis shareholder will receive 0.612 shares of Berkeley Lights stock. Following the transaction’s completion, shareholders of Berkeley Lights will control approximately 75.2% of the merged business, while those of ISO will hold roughly 24.8%.

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