Investment Firm to Purchase Shares from Existing Holders
BioLife Solutions, Inc. (NASDAQ: BLFS), the leading developer, manufacturer and marketer of proprietary clinical grade biopreservation media, (“BioLife” or the “Company”), today announced that two funds managed by Sandler Capital Management, (“Sandler Capital”) a New York-based, sophisticated investor, active in the life science tools and services space, has entered into an agreement to purchase 500,000 BioLife Solutions common shares in a private transaction with the Company’s two largest shareholders, who have been a primary source of investment capital for the Company since its inception.
Mike Rice, BioLife CEO commented, “We are pleased that Sandler Capital has significantly added to two of its funds’ holdings in BioLife Solutions with this transaction. After extensive diligence, Sandler Capital’s management team believes we have a unique position as a supplier of proprietary, critical cell and gene therapy manufacturing tools to the high growth regenerative medicine market.”
Except for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning the company’s anticipated business and operations, guidance for financial results in 2018, including achieving GAAP operating profit, EBITDA, adjusted EBITDA and cash flow from operations, the potential utility of and market for its products and services, potential revenue growth and market expansion, regulatory approvals and/or commercial manufacturing of our customers’ products, and potential customer revenue.
All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including among other things, uncertainty regarding market adoption of products; uncertainty regarding third-party market projections; market volatility; competition; litigation; and those other factors described in our risk factors set forth in our filings with the Securities and Exchange Commission from time to time, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We undertake no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law.
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