MergerJul 24, 2026, 06:07 AM
Freenome Completes Merger with PCSC, Secures Over $300M
AI Summary
Freenome Holdings, Inc. successfully completed its business combination with Perceptive Capital Solutions Corp. (PCSC) on July 20, 2026. The combined entity, now named Freenome, Inc., will commence trading on the Nasdaq Capital Market under the ticker "FRNM" on July 21, 2026. The transaction secured over $300 million in gross proceeds, including a $240 million PIPE investment led by Perceptive Advisors and RA Capital, and approximately $70 million from PCSC's trust account. Freenome will use this capital to advance its blood-based early cancer detection portfolio, enhance its AI/ML-enabled multiomics platform, and expand its commercial infrastructure.
Key Highlights
- Freenome completed its business combination with Perceptive Capital Solutions Corp. (PCSC) on July 20, 2026.
- The combined company, Freenome, Inc., will trade on Nasdaq under the ticker symbol "FRNM" starting July 21, 2026.
- The transaction generated over $300 million in gross proceeds, including $70 million from PCSC's trust account and a $240 million PIPE.
- Freenome's existing shareholders hold approximately 63% of the voting interest in the combined entity.
- A total of 2,146,731 PCSC Class A Shares were redeemed, including 1,392,723 at closing for $15.1 million.
- The pro forma common stock outstanding for the post-combination company is 107,446,814 shares.
- Proceeds will fund the acceleration of Freenome's cancer screening pipeline, advance its AI-enabled multiomics platform, and scale commercialization.
Price Impact
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