Freenome and PCSC Merge in $1.1B Deal for Cancer Detection

Brisbane, CA, and New York - Freenome Holdings, Inc., an early cancer detection company, and Perceptive Capital Solutions Corp (Nasdaq: PCSC), a special purpose acquisition company (SPAC), have entered into a definitive business combination agreement. Upon closing, PCSC will redomicile as a Delaware corporation, be renamed Freenome, Inc., and its common stock is expected to be listed on Nasdaq under the ticker symbol "FRNM". The transaction is anticipated to be completed in the first half of 2026, creating a publicly listed company focused on transforming blood-based multi-cancer detection through an AI/ML-enabled multiomics platform.

The business combination is expected to provide Freenome with approximately $330 million in gross proceeds. This includes approximately $90 million from PCSC's trust account (assuming no redemptions) and a significant $240 million private investment in public equity (PIPE). The PIPE was committed at $10.00 per share by a group of leading institutional healthcare investors, including Perceptive Advisors, RA Capital, ADAR1 Capital, Bain Capital Life Sciences, and Farallon Capital Management. Assuming no redemptions, the combined company is projected to have a post-transaction equity value of approximately $1.1 billion at closing. Freenome's existing shareholders will roll 100% of their equity into the combined company.

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