ARYA Sciences Acquisition II, the second healthcare-focused blank check company formed by Perceptive Advisors, filed on Tuesday with the SEC to raise up to $125 million in an initial public offering. The company plans to raise an additional $25 million through a forward purchase agreement with its sponsor, an affiliate of Perceptive Advisors.
The New York, NY-based company plans to raise $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock and one-third of a redeemable warrant, exercisable at $11.50. At $10, ARYA Sciences Acquisition II would command a market value of $161 million.
The company intends to leverage its management's investment experience by focusing on the healthcare industry, particularly North American or European companies in the life sciences and medical tech sectors. ARYA Sciences Acquisition II is led by Chairman Joseph Edelman, founder of Perceptive Advisors; CEO Adam Stone, Chief Investment Officer of Perceptive Advisors; and CFO Michael Altman, a Managing Director at Perceptive Advisors. The group's previous SPAC, ARYA Sciences Acquisition (ARYAU), is up 28% from its October 2018 IPO and entered into a definitive agreement with clinical stage oncology biotech Immatics Biotechnologies in March 2020.
The New York, NY-based company was founded in 2020 and plans to list on the Nasdaq under the symbol ARYBU. ARYA Sciences Acquisition II filed confidentially on March 10, 2020. Jefferies and Goldman Sachs are the joint bookrunners on the deal.
