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CM Life Sciences, Inc. (CMLF) Completes Sema4 Deal

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CM Life Sciences, Inc. (CMLF) Completes Sema4 Deal

Jul 22, 2021 INTEL by Marlena Haddad

CM Life Sciences, Inc.  (NASDAQ:CMLF) announced this morning that its shareholders approved its combination with genomic and clinical data intelligence company Sema4 and the transaction has now been completed.

The release and an earlier 8-K filing did not disclose redemption figures, but CM Life Sciences traded above $11 through the day of its July 19 redemption deadline and so it is unlikely shareholders redeemed in large numbers, if any. The press release also noted that Sema4 expected to receive $500 million in total proceeds as a part of the deal, which was the amount the parties expected to add to the company’s balance sheet at announcement.

The combined company is now slated to begin trading its shares and warrants on the Nasdaq under the ticker symbols “SMFR” and “SMFRW” beginning Friday, July 23.

The parties initially inked the $2.1 billion deal on February 10. Sema4 is dedicated to transforming healthcare by building dynamic models of human health and defining optimal, individualized health trajectories, starting in the areas of reproductive health and oncology.

Sema4 announced earlier this month that its post-transaction Board would be joined by Jason Ryan, former CFO at Magenta Therapeutics (NASDAQ:MGTA) and Foundation Medicine. CM Life Sciences has maintained strong momentum through the down market and never traded below trust value through the slump.

All measures on CM Life Science’s ballot passed by wide margins but some received as many as 17% votes against. For a full list of proposals and vote tallies, click HERE.

ADVISORS

  • Jefferies LLC is acting as sole financial advisor, lead capital markets advisor, and sole placement agent to CM Life Sciences
  • Cowen and Company, LLC is also acting as a capital markets advisor to CM Life Sciences
  • White & Case LLP is serving as legal advisor to CM Life Sciences
  • Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as financial advisors to Sema4
  • Fenwick & West LLP is serving as legal advisor to Sema4

ByMarlena Haddad