Kirkland & Ellis advised Arya Sciences Acquisition Corp III, a special purpose acquisition company sponsored by Perceptive Advisors, on its business combination with Nautilus Biotechnology, Inc., a company pioneering a single-molecule protein analysis platform for quantifying the human proteome. Upon closing of the transaction, Arya III will redomicile as a Delaware corporation, be renamed Nautilus Biotechnology, Inc. and its common stock is expected to be listed on Nasdaq under the ticker symbol “NAUT”. The transaction values Nautilus Biotechnology, Inc. at an implied equity value of $900 million and the combined company is expected to have an initial market capitalization of approximately $1.3 billion. In addition to the approximately $150 million 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 approximately $200 million at $10 per share. Completion of the transaction, which is expected by the second quarter of 2021, is subject to customary closing conditions.
The Kirkland team was led by transactional partners Ryan Brissette and Jonathan Davis and associate Philippe Simard, capital markets partners Peter Seligson, Christian Nagler and associate Mathieu Kohmann, tax partners Sara Zablotney and Scott Fryman, and executive compensation partner Michael Krasnovsky.