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Alpha Healthcare Acquisition Corp. III (NASDAQ: ALPA) has entered a definitive business combination agreement with Carmell Therapeutics Corporation, a Phase 2-stage biotech firm specializing in allogeneic plasma-based biomaterials for tissue healing. Post-transaction, ALPA will be renamed as Carmell and is expected to have a market cap of approximately $328 million. With 15 million shares exchanged, existing Carmell shareholders will own about 46% of the Combined Company. The deal aims to leverage Carmell's innovative technology to improve patient outcomes and reduce costs.
Alpha Healthcare Acquisition Corp. III (NASDAQ: ALPAU) successfully closed its IPO on July 29, 2021, raising $150 million by offering 15 million units at $10 each. The traded units, listed on the Nasdaq, comprise one share of Class A common stock and a quarter warrant. The company, a blank check firm, aims for mergers in the healthcare sector within the U.S. BofA Securities and PJT Partners served as joint book-running managers. The underwriters have a 45-day option to buy an additional 2.25 million units to cover over-allotments.
Alpha Healthcare Acquisition Corp. III has priced its initial public offering (IPO) at $10.00 per unit, totaling 15,000,000 units. The shares will trade under the symbol ALPAU on the Nasdaq, beginning July 27, 2021. Each unit includes one share of Class A common stock and a quarter warrant, with whole warrants exercisable at $11.50 per share. The IPO is backed by BofA Securities and PJT Partners, who also have the option to purchase an additional 2,250,000 units. The closing is anticipated on July 29, 2021, subject to customary conditions.
