IPOs

Healthcare SPAC Alpha Healthcare Acquisition files for a $100 million IPO

Alpha Healthcare Acquisition, a blank check company targeting a healthcare business in the US, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.

The New York, NY-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed price, Alpha Healthcare Acquisition would command a market value of $129 million.

The company is led by CEO and Chairman Rajiv Shukla, the former CEO of Pipavav Defence & Offshore Engineering (now Reliance Defence and Engineering; NSE: RNAVAL). Shukla also served as the CEO of SPAC Constellation Alpha Capital, which went public in June 2017 and merged with dermatology diagnostics provider DermTech (DMTK; +20% from $10 offer price) in August 2019.

Alpha Healthcare Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol AHACU. Mizuho Securities and Oppenheimer & Co. are the joint bookrunners on the deal.

The article Healthcare SPAC Alpha Healthcare Acquisition files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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