ARYA Sciences Acquisition Corp. (ARYA) announced by press release this afternoon that their combination with Immatics Biotechnologies GmbH has been approved. The shares of common stock and warrants are expected to begin trading under the tickers (IMTX) and (IMTXW).
Additionally, none of the shareholders elected to redeem their shares in connection with the shareholder vote. But this was expected since ARYA’s share price has been trading at roughly $16.77, well above estimated trust value. Nonetheless, this is a strong result.
Backed by Perceptive Advisors, one of the most well known life sciences hedge funds, ARYA’s combination with Immatics looked like a well received combination when it was announced in March 2020 and expectations for success have only gained steam since then.
This transaction is expected to close in the coming few days.
ADVISORS
- Goldman Sachs International and SVB Leerink are acting as lead financial advisors.
- BofA Securities and Kempen are serving as financial advisors to Immatics.
- Jefferies LLC is acting as lead financial and capital markets advisor to Arya as well as sole private placement agent.
- Chardan Capital Markets LLC is also serving as advisor to Arya.
- Goodwin Procter LLP and CMS Legal Services EEIG are acting as legal counsel to Immatics.
- Kirkland & Ellis LLP is serving as legal counsel to Arya.
At the SPAC of Dawn After a tepid month for SPAC activity in April, prominent teams are already scheduling things to make for some fireworks in early May. AltC (NYSE:ALCC) has already been turning heads as being the rare SPAC to trade significantly above trust value before close, and it has now booked the completion...
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...