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ARYA Sciences Acquisition Corp IV (ARYD) is a special purpose acquisition company (SPAC) focused on merging with innovative firms in life sciences and biotechnology. This page serves as your centralized hub for all official ARYD press releases, merger announcements, and financial updates.
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Adagio Medical Holdings, Inc. (Nasdaq: ADGM), a leader in catheter ablation technologies for cardiac arrhythmias, has provided a business update highlighting significant milestones. The company has obtained CE Mark approval and initiated the commercial launch of its vCLAS™ catheter and ultra-low temperature cryoablation (ULTC) system for ventricular tachycardia (VT) treatment in Europe. Additionally, Adagio has received FDA approval for the FULCRUM-VT Pivotal IDE study in the US, with patient enrollment expected to begin in September.
The company recently closed a business combination with ARYA Sciences Acquisition Corp IV, resulting in its listing on the Nasdaq Capital Market under the ticker symbol 'ADGM'. This transaction, along with concurrent financings, raised approximately $84.2 million, leaving the company with a proforma cash-on-hand of about $35 million after closing.
Adagio Medical has completed its business combination with ARYA Sciences Acquisition Corp IV, creating a publicly traded company focused on innovative technologies for treating cardiac arrhythmias. The combined company, Adagio Medical Holdings, Inc., will trade on the Nasdaq Capital Market under the ticker symbol 'ADGM' starting August 1, 2024.
The transaction, approved by shareholders, raised approximately $84.2 million in financing. This includes funds from ARYA IV's trust account, a private placement led by investors like Perceptive Advisors and RA Capital Management, and convertible security financing.
Adagio Medical's focus will be on commercializing the vCLAS™ ultra-low temperature cryoablation (ULTC) catheter for treating ventricular tachycardia in Europe and executing the FULCRUM-VT Pivotal IDE trial recently approved by the FDA.
ARYA Sciences Acquisition Corp IV (NASDAQ: ARYD) has mutually terminated its Business Combination Agreement with Amicus Therapeutics, effective immediately, due to unfavorable market conditions. Despite this setback, ARYA IV has over a year to pursue a new business combination that aligns with its investment criteria. ARYA IV's dissolution deadline is set for March 2, 2023, unless extended. No termination fees will be incurred by either party. ARYA IV remains focused on delivering value for its shareholders.
ARYA Sciences Acquisition Corp IV has priced its initial public offering of 13,000,000 Class A ordinary shares at $10.00 each, to be traded under the ticker symbol ARYD on Nasdaq starting February 26, 2021. The company intends to focus on the healthcare sector, targeting businesses valued at $300 to $500 million, aiming for a market cap of $1 billion or more. The offering includes an option for underwriters to purchase an additional 1,950,000 shares. The expected closing date is March 2, 2021, subject to customary conditions.
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