Cayman team assists fourth ARYA SPAC with US$130 million IPO

Ogier's Cayman Islands team has assisted ARYA Sciences Acquisition Corp IV, the fourth healthcare-focused SPAC formed by Perceptive Advisors, on its US$130 million initial public offering on the Nasdaq Capital Market (Nasdaq).

The New York-based company’s units commenced trading on the Nasdaq under the ticker symbol "ARYD" on February 26 2021, offering shares at a price of US$10. ARYA Sciences Acquisition IV intends to target the healthcare industry, with a specific focus on North American or European companies in the life sciences and medical technology industries.

Ogier has acted as counsel for Perceptive Advisors' previous three SPACs: ARYA Sciences Acquisition III raised $130 million in August 2020 and announced its business combination with Nautilus Biotechnology in February 2021 – a transaction worth US$350 million; ARYA Sciences Acquisition II completed its acquisition of Cerevel Therapeutics in October 2020; and ARYA Sciences Acquisition underwent a US$253 million merger with Immatics Biotechnologies in July 2020.

Ogier's team was led by partner Angus Davison and senior associate Michael Robinson.

Angus said: "We are delighted to have worked with Perceptive Advisors in another of its significant SPAC transactions. It further demonstrates the considerable expertise and experience in our Equity Capital Markets team and the continued buoyancy of the SPAC market."