Alpha Healthcare Acquisition III, a blank check company targeting a healthcare business in the US, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-fourth 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), and CFO Patrick Sturgeon, a Managing Director at Brookline Capital Markets. The company plans to target the US healthcare industry.
Alpha Healthcare Acquisition III plans to list on the Nasdaq under the symbol ALPAU. BofA Securities and PJT Partners acted as joint bookrunners on the deal.
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