On January 2, 2024, SomaLogic Inc announced that it has sent an open letter to shareholders, stating that its board determined combination with Standard BioTools was superior alternative to Company's standalone plan and best path forward, and stated that Madryn Asset Management has issued misleading public commentary regarding the merger. In addition, the Company stated that it carefully evaluated all its alternatives which has been confirmed by the 2 proxy advisory firms ISS and Glass Lewis and remains firm in its belief that this transaction represents the best opportunity to accelerate the combined company's path to profitability and value creation, while also mitigating risks and challenges inherent in Company's business. Further, the Company urged the shareholders to vote for the transaction with Standard BioTools, at the special meeting of shareholders scheduled to be held on January 4, 2024.