This article has been updated with additional information from Singular Genomics Systems.
NEW YORK — Singular Genomics Systems disclosed in a filing with the US Securities and Exchange Commission on Wednesday that it has received a takeover offer from Tang Capital Partners in a deal that would pay $12 per share for the sequencing technology developer.
Tang Capital made its offer through Concentra Biosciences, which it owns, and currently holds a 14.9 percent stake in Singular. The proposed transaction values Singular’s stock at a 112 percent premium to its closing stock price of $5.65 a share one week ago.
Singular said the non-binding proposal from Concentra was unsolicited. As an alternative to receiving $12 per share in cash, Concentra said it would consider inviting interested stockholders to receive a contingent value right instead.
The offer comes less than a week after Singular received an acquisition proposal from Deerfield Management for $10 per share, which boosted its stock 70 percent on the Nasdaq to $9.53 per share. Deerfield owns roughly 27 percent of Singular’s shares.
During late Thursday morning trading, Singular shares were up 10 percent at $18.50.