February 8, 2021 -- Nautilus Biotechnology, a next-generation proteomics company, has entered into a definitive merger agreement with Arya Sciences Acquisition (Arya III), a special purpose acquisition company (SPAC).
In addition to Arya III, a group of healthcare investors has committed to participate in the transaction through a common stock private investment in public equity transaction (PIPE) of approximately $200 million at $10 per share. Nautilus is expected to receive total proceeds of approximately $350 million at the closing of the acquisition and will continue to operate under the Nautilus management team.
The transaction is expected to close in the second quarter of 2021. Proceeds of the business combination and PIPE will be used to advance development of Nautilus Biotechnology's unique proteomic analysis platform, as well as growth across the company's scientific, engineering, and commercial teams, and to support general corporate activities.
"When Arya III was formed, our objective was to identify a company with the potential to successfully address a significant, unmet need in biomedical science," said Adam Stone, chief executive officer of Arya III. "In Nautilus, we are combining with a company we believe has the potential to transform the field of proteomics, unlocking access to the proteome and enabling fundamental advancements in biology, human health, and medicine."