Skip to main content

Thermo Fisher Inks $500M Subscription Agreement to Fund Life Tech Purchase

NEW YORK (GenomeWeb News) – Thermo Fisher Scientific today said that it has entered into a subscription agreement to raise $500 million in gross proceeds to help fund its purchase of Life Technologies.

Under the terms of the agreement, which Thermo Fisher disclosed in a document filed with the US Securities and Exchange Commission, the company will issue in a private placement up to approximately 5.3 million shares of its common stock to Temasek at $95 per share. The share price will be adjusted depending on when the investment closes.

Temasek is a government-owned investment firm based in Singapore.

Thermo Fisher said it does not expect to sell any more equity or equity-linked securities to fund the $13.6 billion acquisition of Life Tech, expected to be completed in early 2014. It previously raised $2.2 billion in a public offering of its shares and entered into a bridge credit agreement and term loan agreement totaling $12.5 billion in order to finance the deal.

In Friday morning trade on the New York Stock Exchange, shares of Thermo Fisher were up 1 percent at $101.18.

The Scan

Possibly as Transmissible

Officials in the UK say the B.1.617.2 variant of SARS-CoV-2 may be as transmitted as easily as the B.1.1.7 variant that was identified in the UK, New Scientist reports.

Gene Therapy for SCID 'Encouraging'

The Associated Press reports that a gene therapy appears to be effective in treating severe combined immunodeficiency syndrome.

To Watch the Variants

Scientists told US lawmakers that SARS-CoV-2 variants need to be better monitored, the New York Times reports.

Nature Papers Present Nautilus Genome, Tool to Analyze Single-Cell Data, More

In Nature this week: nautilus genome gives peek into its evolution, computational tool to analyze single-cell ATAC-seq data, and more.