Tempus AI (TEM) said Monday it completed purchase of Ambry Genetics for $600 million, including $375 million in cash and $225 million in shares.
Of the stock portion of the purchase tag, $100 million is under a lock-up agreement, restricting their sale for one year after the deal closed, the company said.
Ares Management Credit provided financing for the acquisition, it added.
Ambry Genetics will operate as a wholly-owned subsidiary of Tempus, retaining its leadership team, according to the company.
Tempus shares were up over 3% in recent after-market activity.
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