ARYA - Nautilus Biotechnology to be listed through Arya SPAC business combination
Nautilus Biotechnology, pioneer of single-molecule protein analysis platform for quantifying the human proteome, inked a business combination agreement with SPAC, Arya Sciences Acquisition III (ARYA) post which the latter will be remained Nautilus Biotechnology and stock expected to be listed on Nasdaq under symbol, 'NAUT'.Besides the ~$150M held in Arya III's trust account, a group of premier healthcare investors has committed to participate in the transaction through a common stock PIPE of ~$200M at $10/share (leading to initial market capitalization of ~$1.3B).On closure, the combined company is expected to receive proceeds of ~$350M and will operate under Nautilus team.Transaction expected to close in 2Q21.Current Nautilus stockholders are converting 100% of their existing equity interests into shares of the combined company at an implied Nautilus Biotechnology equity value of $900M.Assuming that no Arya III shareholders elect to redeem their shares, and taking into account their participation in the PIPE, Nautilus Biotechnology current stockholders, excluding Perceptive Advisors,
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Nautilus Biotechnology to be listed through Arya SPAC business combination