Olink Holding AB (publ) American Depositary Shares - OLK STOCK NEWS

Thermo Fisher Scientific (NYSE: TMO) has successfully completed its acquisition of Olink Holding AB (Nasdaq: OLK) for $3.1 billion. This strategic acquisition enhances Thermo Fisher's capabilities in the high-growth proteomics market, integrating Olink’s advanced proteomics solutions with Thermo Fisher's mass spectrometry and life sciences offerings.

The transaction was executed via a tender offer where Thermo Fisher's subsidiary, Orion Acquisition AB, acquired approximately 98.2% of Olink’s outstanding shares at $26.00 per share or ADS. The initial offering period expired on July 9, 2024, and a subsequent offering period will run until July 16, 2024.

Post-acquisition, Olink will be delisted from Nasdaq and deregistered, affecting the liquidity of remaining ADSs. Thermo Fisher aims to expedite scientific breakthroughs and deliver significant shareholder value through this acquisition.

Olink Holding AB (Nasdaq: OLK) announced that the UK Competition and Markets Authority (CMA) has unconditionally approved the tender offer by Orion Acquisition, a subsidiary of Thermo Fisher Scientific (NYSE: TMO), for all outstanding shares of Olink at $26.00 per share. The offer follows a Purchase Agreement from October 17, 2023. With CMA's approval, Olink and Thermo Fisher plan to complete the offer promptly after its expiration on July 9, 2024, at 5:00 p.m. ET. The offer is subject to conditions, including that the Buyer must hold more than 90% of the issued and outstanding common shares at the expiration time.

On July 5, 2024, Olink Holding AB held an Extra General Meeting (EGM) in Uppsala, Sweden. During the meeting, several resolutions were adopted, including a decision to provide additional compensation to the board of directors. This compensation, proposed by the majority shareholder, amounts to USD 127,504 and will be distributed in tranches over multiple years. The details of these resolutions are available on the company's website.

For further information, investors can reach out to David Deuchler of the Gilmartin Group or Michael B. Gonzales, VP of Global Marketing, using the provided contact details.

Olink Holding has launched its first-ever network of Olink Certified Service Providers, encompassing leading CROs and service labs worldwide. These certified providers have undergone rigorous training, testing, and re-certification to ensure top-notch performance using Olink's advanced proteomics technology.

Mike Irwin, Olink's Vice President, emphasized the goal of democratizing proteomics, making their platform accessible to researchers globally. The network includes prominent organizations such as AssayGate, Australian Genome Research Facility, and Vanderbilt University Medical Center, among others, facilitating convenient, high-quality access to Olink's cutting-edge solutions.

Olink Holding AB (publ) has announced an Extra General Meeting scheduled for July 5, 2024, at Salagatan 16A, Uppsala. Registration starts at 3:30 p.m. CET. Shareholders must be registered by Euroclear Sweden AB by June 27, 2024, and notify their attendance by July 1, 2024. Electronic participation is possible if pre-approved, but such participants must vote through a proxy attending in person. Key agenda items include electing a meeting chairman, approving the agenda, and deciding on board member fees. The majority shareholder proposes additional fees for board members, totaling USD 127,504 until the 2028 AGM, with varied amounts payable upon a change of control. Olink has 124,739,269 shares and votes in total. Shareholders can request meeting-related information as specified under Swedish law.

Olink Holding AB (Nasdaq: OLK) has launched the Olink Target 48 Immune Surveillance panel. This validated multiplexed protein assay panel provides an in-depth analysis of the immune system, monitoring inflammation and immune response using only 1μL of sample. When combined with the Olink Target 48 Cytokine panel, it can detect up to 89 immune-related proteins using just 2μL of sample. The panel uses Olink’s PEA™ technology and offers precise, quantitative data, aiding research in immunology, immuno-oncology, and infectious diseases. It aims to reduce import barriers and is compatible with the Olink Signature Q100 benchtop system.

Olink Holding AB (Nasdaq: OLK) announced a breakthrough study using its Olink Explore platform, showing proteins in blood may indicate cancer up to 7 years before diagnosis. Published in Nature Communications, the study analyzed blood from over 44,000 people, identifying 371 proteins associated with 19 cancers, including 107 detectable years before cancer onset. Conducted by Oxford Population Health and funded by Cancer Research UK, the findings highlight proteomics' potential for early cancer detection and better treatment. Further research is needed to confirm these proteins' roles in cancer. The study's details will be presented at the European Society of Human Genetics conference in Berlin, June 1-4.

Olink Holding AB (publ) announced its first quarter 2024 financial results, showing revenue growth of 5% year over year to $28.8 million. Explore customer installations reached 121, and Signature Q100 placements reached 202. Net loss for the quarter was $(16.1) million, with adjusted EBITDA of $(15.5) million. Thermo Fisher Scientific acquisition expected to be completed by mid-2024.