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

August 4, 2020

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.