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Healthcare SPAC Alpha Healthcare Acquisition prices $100 million IPO at $10

September 18, 2020

Alpha Healthcare Acquisition, a blank check company targeting a healthcare business in the US, raised $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.

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; +11% from $10 offer price) in August 2019.

Alpha Healthcare Acquisition plans to list on the Nasdaq under the symbol AHACU. Oppenheimer & Co. acted as a lead manager on the deal.