SeqLL Inc. - SQL STOCK NEWS

SeqLL Inc. has announced the cancellation of its special cash dividend and stock dividend that it intended to make to its common stockholders. The cancellation was due to significant logistical issues associated with the proposed dividends that could have jeopardized the planned acquisition of Lyneer Investments LLC. Instead, the company plans to make a settlement offer to stockholders to settle any claims for failing to pay dividends.

SeqLL Inc. sets September 26, 2023 as record date for special stock dividend and cash dividend to be made to holders of common stock.

SeqLL Inc. announces a 1-for-40 reverse stock split to regain compliance with Nasdaq listing requirements.

SeqLL Inc. has entered into a definitive merger agreement with Lyneer Investments, LLC and related parties. SeqLL will pay $60 million in cash and issue shares of its common stock valued at $138.1 million for all of the membership interests of Lyneer. The merger is expected to diversify SeqLL's business mix and provide greater solutions expertise and skilled talent to its clients.

SeqLL Inc. (NASDAQ: SQL; SQLLW) reported its financial results for the year ended December 31, 2022, indicating total revenues of $0.079 million, down 63% from $0.21 million in 2021. Gross profits also decreased by 49%, totaling $0.078 million. Research and development expenses surged 196% to $1.57 million, reflecting a return to pre-pandemic activity levels. General and administrative expenses rose 15% to $2.5 million. The net loss for the year increased by 11% to $4.09 million. Cash, cash equivalents, and investments amounted to $6.2 million as of year-end.

SeqLL Inc. (Nasdaq: SQL, SQLLW) has successfully completed a registered direct offering of 2,000,000 shares of common stock at $0.90 per share, raising approximately $1.8 million in gross proceeds. The offering, facilitated by Maxim Group LLC, is part of the company's ongoing strategy to enhance its life sciences instrumentation and research services. The shares were issued under the company's shelf registration statement filed with the SEC. This financing will support SeqLL's development of its True Single Molecule Sequencing platform, aimed at advancing genomic medicine.

SeqLL Inc. (NASDAQ: SQL, SQLLW) announced a securities purchase agreement with institutional investors to sell 2,000,000 shares of common stock at $0.90 per share in a registered direct offering, generating approximately $1.8 million in gross proceeds. The offering is managed by Maxim Group LLC and is expected to close by February 15, 2023, subject to customary conditions. The shares are being offered under a shelf registration statement declared effective by the SEC. SeqLL specializes in life sciences instrumentation and research services, focusing on the development of innovative solutions in genomics.

SeqLL Inc. (NASDAQ: SQL) has entered a two-year Cooperative Research and Development Agreement (CRADA) with the FBI’s Laboratory Division. The collaboration aims to evaluate forensic capabilities of direct RNA sequencing using SeqLL’s True Single Molecule Sequencing (tSMS®) platform. This partnership will work towards a body fluid identification assay that complements traditional DNA analysis. The agreement is notable as it marks one of the first instances of the FBI using CRADA to enhance laboratory capabilities. SeqLL's CEO expressed optimism about developing forensic applications using their technology.