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Perceptive Advisors' SPAC Perceptive Capital Solutions files for a $75 million IPO

May 21, 2024

Perceptive Capital Solutions, a blank check company backed by Perceptive Advisors targeting healthcare, filed on Tuesday with the SEC to raise up to $75 million in an initial public offering.

The New York, NY-based company plans to raise $75 million by offering 7.5 million shares at $10. The offering does not contain warrants or rights. At the proposed deal size, Perceptive Capital Solutions would command a market value of $97 million.

The company is led by Chairman Joseph Edelman, the founder, CEO, and Portfolio Manager of life sciences-focused investment firm Perceptive Advisors, and CEO and Director Adam Stone, the CIO of Perceptive Advisors. It plans to target the healthcare or healthcare-related industries, particularly North American or European companies in the life sciences and medical technology sectors.

Perceptive Advisors has backed several previous SPACs, most recently ARYA Sciences Acquisition IV (ARYD; +14% from $10 offer price), which has a pending merger agreement with cryoablation firm Adagio Medical, and ARYA Sciences Acquisition V, which liquidated in 2023.

Perceptive Capital Solutions was founded in 2024 and plans to list on the Nasdaq under the symbol PCSC. The company filed confidentially on April 16, 2024. Jefferies is the sole bookrunner on the deal.