Bullish indicating open at $55-$60, IPO prices at $37
Akoya Biosciences , Inc. (NASDAQ:AKYA), a specialist in laboratory analytical instruments currently valued at $88.24 million, announced Monday that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) expired, marking a significant step towards its merger with Quanterix (NASDAQ:QTRX) Corporation. The company’s stock, which has declined 67.58% over the past year and trades near its 52-week low of $1.70, appears undervalued according to InvestingPro analysis. This regulatory milestone, which occurred at 11:59 p.m. ET on February 24, 2025, is part of the process leading up to the anticipated merger of Akoya as a wholly owned subsidiary of Quanterix.
The merger, which was first announced on January 9, 2025, is subject to customary closing conditions, including approval by Akoya’s stockholders and Quanterix’s stockholders of the issuance of Quanterix’s common stock in connection with the merger. Both companies have already filed the necessary notification and report forms as required by the HSR Act on January 24, 2025. With Akoya’s next earnings report due on March 10, 2025, InvestingPro subscribers can access detailed analysis and 10+ additional investment tips to evaluate this merger’s potential impact.
Akoya’s stockholders and Quanterix’s stockholders are expected to receive a definitive joint proxy statement/prospectus in connection with the proposed transaction. This document will provide important information and will be mailed once finalized. Meanwhile, investors and security holders can access the preliminary joint proxy statement/prospectus filed with the SEC on February 13, 2025, as well as other relevant documents filed by both companies.
The completion of the merger is anticipated to occur in the second quarter of 2025, subject to the satisfaction of the remaining closing conditions. Akoya continues to operate from its headquarters in Marlborough, MA, and the merger is expected to enhance the combined company’s capabilities in the analytical instruments industry.
This news is based on a press release statement and investors are urged to read the registration statement and joint proxy statement/prospectus carefully for more details about the merger and the companies involved.
In other recent news, Quanterix Corporation has announced its acquisition of Akoya Biosciences in an all-stock transaction. This merger aims to create an integrated solution for detecting protein biomarkers in both blood and tissue. The deal is expected to generate approximately $40 million in annual cost synergies by the end of 2026 and is projected to achieve a positive free cash flow in the same year. However, Kent Lake PR LLC, a significant shareholder of Quanterix, has voiced opposition to the merger, arguing that it undervalues Quanterix and could negatively impact its shareholders. Kent Lake suggests that the merger terms assign an enterprise value to Quanterix that is significantly lower than Akoya’s, despite Quanterix’s higher revenue and growth rate.
Additionally, Akoya Biosciences has updated its indemnification agreements for non-employee directors and executive officers, enhancing protections in legal proceedings. This revision includes a broader definition of indemnifiable expenses and a requirement for a six-year directors and officers insurance tail policy in case of a Change in Control. The company plans to execute these agreements with its current and future non-employee directors and executive officers. These developments reflect ongoing strategic and governance changes within both companies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.