Kent Lake PR LLC, a holder of approximately 7.5% of Quanterix Corporation's common stock, issued a statement on April 7, 2025, expressing deep disturbance over Quanterix entering a Securities Purchase Agreement to provide up to $30 million in convertible notes to Akoya Biosciences. This financing occurred before Quanterix shareholders had the opportunity to vote on the proposed merger.
Kent Lake highlighted that Akoya can draw on these notes until July 9, 2025, even if the merger transaction is terminated before that date. The shareholder characterized this as 'backdoor financing' that is highly unfavorable to Quanterix shareholders, leaving them with high-risk subordinated distressed debt.
The firm called on Quanterix to provide comprehensive disclosures on the commercial reasonableness of the bridge financing terms and how Akoya’s need for such a loan factored into the Board’s valuation. This development intensifies shareholder opposition and raises significant questions about Akoya's financial stability and the merger's rationale.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.