SPAC Healthcare Capital Secures Shareholder Approval Of US$1 Billion SPAC Merger

Special purpose acquisition company Healthcare Capital Corp. (Nasdaq: HCCC) announced today that it has secured its shareholders’ approval of the proposed business combination with Israeli medical device company Alpha Tau Medical. The transaction values the combined company at a pro forma equity value of US$1 billion, assuming no redemptions take place.

The combined company, expected to operate under Alpha Tau, plans to trade on the Nasdaq under the symbol “DRTS” and “DRTSW” for its shares and warrants, respectively.

With 65.64% of shareholders on record, around 94.57% voted for the proposed merger.

Post-transaction, Alpha Tau shareholders will own 59.3% of the combined firm.

The blank check firm closed its US$275 million IPO in January 2021. According to its prospectus, it intended to pursue a business combination within the healthcare industry.

The Israeli firm focuses on research, development, and potential commercialization of the Alpha DaRT for the treatment of solid tumors.

Healthcare Capital last traded at US$10.08 on the Nasdaq.


Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Fintech SPAC SHUAA Partners Acquisition I Prices US$100 Million IPO

Special purpose acquisition company SHUAA Partners Acquisition Corp I (Nasdaq: SHUAU) started trading its securities...

Thursday, March 3, 2022, 02:27:00 PM

Energy SPAC Energem Seeks To Raise US$100 Million In IPO

Special purpose acquisition company Energem Corp. (Nasdaq: ENCPU) went public on the Nasdaq Global Market...

Tuesday, November 16, 2021, 02:10:00 PM

Fintech SPAC AIB Acquisition Seeks To Raise US$75 Million In IPO

Special purpose acquisition company AIB Acquisition Corporation (Nasdaq: AIBBU) went public on the Nasdaq Global...

Wednesday, January 19, 2022, 02:16:00 PM

SPAC Gardiner Healthcare Acquisitions Prices US$75 Million IPO

Special purpose acquisition company Gardiner Healthcare Acquisitions Corp. (NASDAQ: GDNRU) started trading publicly on the...

Wednesday, December 22, 2021, 04:32:00 PM

Gaming SPAC UTA Acquisition Prices US$200 Million IPO

Special purpose acquisition company UTA Acquisition Corporation (Nasdaq: UTAAU) started trading publicly on the Nasdaq...

Thursday, December 2, 2021, 02:17:00 PM