The IPO Buzz: SPAC Perceptive Capital Solutions Raises $75 Million

Perceptive Capital Solutions Corp. (PCSC), a small healthcare SPAC based in New York, raised $75 million with the pricing of its small stock-only IPO on Tuesday night, June 11, 2024. The SPAC – sponsored by an affiliate of Perceptive Advisors – sold 7.5 million shares at $10.00 each. Perceptive Capital Solutions Corp.’s stock closed at $10.05 – up 5 cents – in its NASDAQ debut on Wednesday, June 12, 2024, on volume of 1.91 million shares. (Editor’s Note: This column, published early Wednesday, June 12, was updated periodically with news on the stock’s first day of trading on NASDAQ.)

Perceptive Capital Solutions’ stock opened Wednesday at $10.06 – up 6 cents – at 10:43 a.m. EDT on the NASDAQ on volume of 458,968 shares. The stock later hit an intraday high of $10.11. Perceptive Capital Solutions Corp. stock was trading at $10.10 at around 11: 43 a.m. EDT on Wednesday on volume of more than 900,000 shares.

Perceptive Capital Solutions’ SPAC IPO was unusual because it was a stock-only IPO. In the universe of SPAC IPOs, stock-only deals are uncommon. The typical structure involves stock plus warrants or stock plus rights.

Jefferies was the sole book-runner.

The pricing of Perceptive Capital Solutions’ IPO brings the SPAC IPO count to three so far in June –  and raises the SPAC IPO total to 12 for the year so far.

Perceptive Capital Solutions Corp. intends to focus its search for a business combination target on North American or European companies in the life sciences and medical technology sectors, the prospectus said.

Its sponsor, Perceptive Capital Solutions Holdings, agreed to buy 275,000 Class A ordinary shares at the IPO price of $10.00 per share in a private placement to occur concurrently with the closing of the initial public offering, the prospectus said.

The SPAC’s sponsor is an affiliate of Perceptive Advisors, a leading life sciences-focused investment firm with over $7.8 billion of regulatory assets under management as of Dec. 31, 2023, according to the prospectus. Since its launch in 1999, Perceptive Advisors has focused exclusively on the healthcare industry.

“Our founders are the founder and management of Perceptive Advisors. Joseph Edelman, our chairman, founded Perceptive Advisors in 1999. Adam Stone, our CEO,  is the chief investment officer of Perceptive Advisors, and Michael Altman, our chief business officer, is a managing director at Perceptive Advisors,” the prospectus said.

“Perceptive Advisors’ investment activity is focused on identifying both private and public companies in the life sciences and medical technology sectors; the firm has investments in 210 companies as of Dec. 31, 2023. The team at Perceptive Advisors consists of trained scientists, physicians and financial analysts who are passionately committed to identifying innovation that can drive critical change to current treatment paradigms.”

(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on’s website.)

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Disclosure: Nobody on the staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The staff does not issue advice, recommendations or opinions.

Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.