Billerica & Marlborough, MA — Quanterix Corporation and Akoya Biosciences have amended the terms of their previously announced merger agreement, significantly reducing the number of shares to be issued and reinforcing their commitment to completing the transaction amid a volatile market environment.
Under the revised terms, Quanterix will issue approximately 7.76 million shares of its common stock and pay $20 million in cash to Akoya shareholders. Each Akoya share will now receive $0.38 in cash and 0.1461 shares of Quanterix stock. The updated exchange ratio results in Quanterix issuing over 9 million fewer shares than originally planned. Following the merger, Quanterix shareholders will hold about 84% of the combined company, while Akoya shareholders will own roughly 16%.
Quanterix CEO Masoud Toloue said the changes were made in response to recent market volatility and shifting investor sentiment. “The strategic merits of the transaction remain strong even as the market has been focused on academic funding and tariff concerns,” Toloue said. “We re-engaged with Akoya to revise the terms, and we believe the combined company offers a significant value creation opportunity for shareholders.”
Akoya CEO Brian McKelligon echoed that optimism, calling the revised deal a compelling outcome for Akoya investors. “We remain excited to combine with Quanterix and look forward to leveraging our collective scale to drive synergies across our organizations and accelerate our path to profitability.”
The boards of directors of both companies have approved the amended agreement. In addition, Akoya shareholders holding more than 50% of the company’s common stock have agreed to vote in favor of the revised deal.
Due to the amended terms, Quanterix will no longer proceed with its previously announced special shareholder meeting. The transaction is expected to close in the second quarter of 2025, pending Akoya shareholder approval and other customary conditions.
Quanterix has also filed an updated investor presentation with the Securities and Exchange Commission, outlining the financial and strategic benefits of the merger. The presentation is available on the company’s investor relations website.
Goldman Sachs is advising Quanterix on the deal, with Covington & Burling LLP and Sidley Austin LLP serving as legal counsel. Perella Weinberg Partners is serving as Akoya’s financial advisor, with legal support from DLA Piper LLP.
