On January 4, 2024, Madryn Asset Management, LP issued a statement regarding January 4th?s multiple adjournments of the special meeting of shareholders of SomaLogic, Inc related to the proposed merger with Standard BioTools Inc. Additionally, Madryn?s legal counsel sent a letter to members of the Company?s Board of Directors regarding the decision to adjourn the Special Meeting and keep shareholders in the dark while seemingly covert solicitation efforts are carried out. Madryn Asset stated that it believes two last-minute adjournments of special meeting stem from fellow shareholders recognizing the deal consideration assigns no value to the Company?s desirable assets and represents a material discount to company?s cash. Madryn Asset stated that contends fellow shareholders share concerns about the combined entity?s proforma capital structure and governance, which would subordinate them to conflicted insiders like hedge fund manager Eli Casdin (a Director and Shareholder of Both Companies).

In addition, Madryn Asset urged all the company shareholders to oppose the conflict-ridden transaction and reject the company?s questionable eleventh-hour attempts to covertly secure necessary votes.