Veracyte, Inc. (NasdaqGM:VCYT) has reached a definitive agreement to acquire C2i Genomics, Inc. for $95 million on January 8, 2024. Under the terms of the agreement, Veracyte will pay $70 million in Veracyte shares at closing, and up to an additional $25 million based on the achievement of future performance milestones over the next two years, payable in Veracyte shares or cash at Veracyte?s election. Veracyte expects the upfront purchase price to be subject to customary balance sheet adjustments and the transaction to close in the first quarter of 2024.

Morgan Stanley & Co. LLC is serving as financial advisor to Veracyte, and Fenwick & West LLP is serving as legal advisor. Perella Weinberg Partners is serving as financial advisor to C2i Genomics, and Meitar is serving as legal advisor.