Research Alliance Corporation IV, the fourth blank check company formed by RA Capital targeting healthcare, life sciences, and healthtech, raised $75 million by offering 7.5 million shares at $10. Unlike most SPACs, the company did not offer units with warrants or rights attached.
Research Alliance IV is led by CEO and Director Matthew Hammond, a Partner on the Investment Team at RA Capital Management. He is joined by RA Capital analyst Henry Stusnick, who will serve as CBO and COO.
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 III (RACC), which completed a $75 million IPO in May; Research Alliance II, which went public in 2021 and liquidated; and Research Alliance I, which merged with POINT Biopharma (formerly Nasdaq: PNT; acquired by Eli Lilly) in 2021.
The New York, NY-based company will trade on the Nasdaq under the symbol RACD. Leerink Partners acted as sole bookrunner on the deal.
