The deal value, at announcement and since, is plainly insufficient in light of recent SomaLogic trading prices and the Company's historical valuation relative to peers. Further, the Merger consideration implies a valuation of SomaLogic that is significantly lower than the value implied by a recent – and we believe highly relevant – comparable transaction: the acquisition of Olink Holding AB (publ) ("Olink") (Nasdaq: OLK) by Thermo Fisher Scientific Inc. (NYSE: TMO) on October 17, 2023. Finally, as an all-stock transaction, the value accruing to SomaLogic shareholders depends on the price of Standard stock, which has fluctuated significantly since the Merger announcement. At the Merger's ratio of 1.11 Standard shares per SomaLogic share, SomaLogic was valued at $3.00 per share at the time of the announcement, and $2.40 per share as of December 11, 2023.