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Casdin Capital, Viking Global Investors Inject $250M In Fluidigm

Fluidigm Corporation (NASDAQ: FLDM) has approved a 0 million investment by Casdin Capital LLC and Viking Global Investors LP with zero-coupon convertible preferred shares with a conversion price of $3.40/share.

  • The investment will significantly advance the Company's mission through new organic and inorganic growth initiatives while optimizing its cost structure.

  • Upon closing of the investment, which is expected in late Q1, Fluidigm will change its name to Standard BioTools Inc.

  • Upon closing, Egholm will succeed Chris Linthwaite, President & CEO.

  • To ensure a smooth transition, Chris Linthwaite will continue as Fluidigm's CEO until May 15, 2022, and remain in an advisory role until November 30, 2022.

  • Additionally, Alex Kim will join as Chief Operating Officer and lead transformation activities.

  • Casdin has chosen Eli Casdin as its Board appointee, and Viking has selected Dr. Martin D. Madaus.

  • Two current company directors will step down at the closing of the investment.

  • The preferred shares will represent approximately 42.4% of Fluidigm's pro forma shares outstanding on an as-converted basis.

  • The transaction will close in Q1 of 2022.

  • Price Action: FLDM shares are up 0.35% at $2.85 during the market session on the last check Monday.

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