Research Alliance III, a blank check company formed by RA Capital targeting drug development and healthtech, filed on Tuesday with the SEC to raise up to $50 million in an initial public offering.
The company plans to raise $50 million by offering 5 million shares at $10. Unlike most SPACs, the company is offering shares, instead of units with warrants and/or rights attached.
Research Alliance III is led by CEO and Director Matthew Hammond, a Partner on the Investment Team at RA Capital Management. The SPAC intends to target healthcare-related industries, specifically companies in the drug development and commercialization, diagnostic and healthcare technology and service sectors. The company may pursue a target affiliated with RA Capital.
RA Capital's previous SPACs include Research Alliance II (RACB), which went public in 2021 and liquidated; and Research Alliance I, which merged with POINT Biopharma (PNT; acquired by Eli Lilly) in 2021.
The New York, NY-based company was founded in 2026. It plans to list on the Nasdaq under the symbol RACC. Leerink Partners is the sole bookrunner on the deal.
