Indaba Capital Management Announces It Has Sold Its Portfolio Company, AST Revolution To Bruker Corporation; Financial Details Not Disclosed

Indaba Capital Management, L.P. ("Indaba"), controlling shareholder of AST Revolution, LLC ("AST Revolution" or the "Company"), today announced the sale of AST Revolution to Bruker Corporation ("Bruker") (NASDAQ:BRKR, BRKRP))), a leading provider of advanced scientific instruments and analytical solutions for life sciences and materials research. Financial terms of the transaction were not disclosed.

The transaction follows AST Revolution's launch in August 2025 as an in vitro diagnostics company focused on developing next-generation rapid antimicrobial susceptibility testing (AST) solutions that improve patient outcomes and lower healthcare costs. AST Revolution was formed after the completion of a court-approved acquisition of select assets of Accelerate Diagnostics, Inc. ("Accelerate Diagnostics") under the Chapter 11 process, including the Accelerate Diagnostics WAVE™ and Arc™ systems and associated intellectual property portfolio.

With Indaba's support and continued funding in recent months, AST Revolution was able to drive product development while also establishing a dedicated platform to advance the WAVE™ and Arc™ systems, positioning the Company for leadership in rapid AST.

Derek Schrier, Founder and CIO of Indaba and Chairman of AST Revolution's Management Committee, said:

"The sale of AST Revolution to Bruker is a strong outcome that represents the culmination of a collaborative effort with AST Revolution to revitalize a differentiated diagnostic platform. Following the acquisition of Accelerate Diagnostics' intellectual property and the subsequent launch of AST Revolution earlier this year, we saw an opportunity to strengthen a valuable technology and moved quickly to build AST Revolution into a compelling standalone entity with the potential to become the leading solution in rapid AST. Throughout that process, we were impressed by how quickly our Chief Scientific Officer, Larry Mertz, brought his remarkable team together to further advance the WAVE™ technology, and we're incredibly grateful for his strong leadership and determination. Going forward, we are confident that Bruker will be the ideal long-term owner for AST Revolution and its next-generation AST technologies given its unique understanding of the Company's opportunity set."