Biotech Values

[DewDiligence]

CERE goes public via reverse-merger with ARYBU:

https://www.businesswire.com/news/home/20200730005270/en/%C2%A0Cerevel-Therapeutics-Arya-Sciences-Acquisition-Corp-II

Cerevel Therapeutics, a company dedicated to unraveling the mysteries of the brain to treat neuroscience diseases, and Arya Sciences Acquisition Corp II (Nasdaq: ARYBU) (“Arya II”), a special purpose acquisition company or SPAC, sponsored by Perceptive Advisors, today announced they have entered into a definitive business combination agreement. Upon closing of the transaction, Arya II will redomicile as a Delaware corporation, be renamed Cerevel Therapeutics Holdings, Inc. and its common stock is expected to be listed on Nasdaq under the ticker symbol “CERE” (the “Combined Company”).

…Assuming that no Arya II shareholders elect to redeem their shares and no Arya II warrants are exercised, and taking into account their participation in the PIPE, Bain Capital and Pfizer Inc., the current shareholders of Cerevel Therapeutics, will own approximately 69% of the Combined Company after closing. Further assuming a share price of $10.00 per share, the Combined Company is expected to have an initial market capitalization of approximately $1.3 billion.

Cerevel was originally spun out from PFE.