ARYA Sciences Acquisition Corp V Announces Pricing of $130 Million Initial Public Offering

Rhea-AI Summary

ARYA Sciences Acquisition Corp V announced the pricing of its initial public offering (IPO) of 13,000,000 Class A ordinary shares at $10.00 each, set to trade under the ticker symbol ARYE on NASDAQ starting July 13, 2021. The company aims to target businesses in the healthcare sector, specifically those valued between $300 million to $500 million, with potential market caps exceeding $1 billion. Jefferies LLC and Goldman Sachs & Co. LLC are the joint book-running managers for this offering, which is expected to close on July 15, 2021.

Positive

• Pricing of IPO at $10 per share, raising significant capital.
• Focus on healthcare industry which has strong growth potential.
• Targeting companies with substantial valuations, which may indicate future revenue growth.

Negative

• Risk that the offering may not close or be completed as planned.

NEW YORK, July 12, 2021 (GLOBE NEWSWIRE) -- ARYA Sciences Acquisition Corp V (the “Company”), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses or entities, today announced the pricing of its initial public offering of 13,000,000 Class A ordinary shares at a price of $10.00 per share. The Class A ordinary shares will be listed on The Nasdaq Capital Market and trade under the ticker symbol “ARYE” beginning on July 13, 2021.

While the Company may pursue an initial business combination target in any business or industry, it intends to focus on the healthcare industry in the United States and other developed countries. The Company intends to focus on target businesses with valuations of $300 to $500 million or more and that have the potential to be $1 billion or more market capitalization companies. The Company is led by Chairman Joseph Edelman, Chief Executive Officer Adam Stone, Chief Financial Officer Michael Altman and Chief Business Officer Konstantin Poukalov.

Jefferies LLC and Goldman Sachs & Co. LLC are serving as joint book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 1,950,000 Class A ordinary shares to cover over-allotments, if any, at the initial public offering price.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10002, by telephone: 877-821-7388 or by email: Prospectus_Department@Jefferies.com; or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, telephone: (212) 902-1171 or email: Prospectus-ny@ny.email.gs.com.

The registration statement relating to the securities was declared effective on July 12, 2021 by the U.S. Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is expected to close on July 15, 2021, subject to customary closing conditions.

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. 

FAQ

What is the IPO price for ARYA Sciences Acquisition Corp V?

The IPO price for ARYA Sciences Acquisition Corp V is set at $10.00 per share.

When will ARYA shares start trading?

ARYA shares will start trading on NASDAQ on July 13, 2021.

What is the focus of ARYA Sciences Acquisition Corp V?

ARYA intends to focus on acquiring companies in the healthcare sector.

What is the expected closing date for the IPO?

The offering is expected to close on July 15, 2021.

Who are the underwriters for ARYA's IPO?

Jefferies LLC and Goldman Sachs & Co. LLC are serving as the joint book-running managers for the offering.