Perceptive Capital Solutions Reports Net Income of $981,482 in Q3 2024

Perceptive Capital Solutions Corp, incorporated on March 22, 2024, reported its financial performance for the three months ended September 30, 2024, in its 10-Q filing. The company, which operates as a blank check firm, generated a net income of $981,482 during this period, primarily from interest income of $1,163,406 and an unrealized gain of $14,204, offset by operating costs of $196,128. For the period from inception through September 30, 2024, the net income totaled $1,068,960, with similar sources of income and total operating costs of $318,079.

The company’s Initial Public Offering (IPO) on June 13, 2024, was a significant milestone, raising gross proceeds of $86,250,000 from the sale of 8,625,000 Class A ordinary shares at $10.00 each. Additionally, 286,250 private placement shares were sold, generating $2,862,500. The total transaction costs associated with the IPO amounted to $4,809,616, which included a cash underwriting fee of $1,725,000 and a deferred underwriting fee of $3,450,000.

As of September 30, 2024, Perceptive Capital held cash of $1,209,453 and working capital of $1,209,805. The Trust Account, which contains the proceeds from the IPO, had assets totaling $87,637,039, primarily invested in U.S. Treasury securities. The company has a business combination period ending on June 13, 2026, and must complete a business combination by this date to avoid mandatory liquidation.

The company reported basic and diluted net income per ordinary share of $0.09 for the three months ended September 30, 2024, with a weighted average of 8,625,000 Class A redeemable shares and 2,442,500 Class A and B non-redeemable shares outstanding. The basic net income for Class A redeemable shares was $764,878, while Class A and B non-redeemable shares accounted for $216,604.

Perceptive Capital has incurred $45,000 in administrative service fees for the quarter, totaling $54,500 since inception. The company has no preference shares issued or outstanding and maintains a straightforward capital structure with Class A and Class B ordinary shares. As of the reporting date, there were no legal proceedings or material changes to risk factors disclosed in the IPO prospectus. The company’s disclosure controls and procedures were evaluated and deemed effective, with no changes in internal control over financial reporting reported during the fiscal quarter.