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Alpha Tau Medical and Healthcare Capital Corp. announced the successful completion of their business combination, effective March 8, 2022. This merger will enable Alpha Tau to trade on Nasdaq under the ticker symbols 'DRTS' and 'DRTSW.' The transaction was approved by HCCC stockholders, raising approximately $90 million in gross cash proceeds. Alpha Tau's CEO Uzi Sofer expressed confidence in utilizing these funds to advance their innovative cancer treatment, Alpha DaRT. Advisors included Citigroup and Ladenburg Thalmann, ensuring a smooth transition to public company status.
Healthcare Capital Corp. (NASDAQ: HCCC, HCCCW, HCCCU) announced that its stockholders approved the business combination with Alpha Tau Medical Ltd. during a special meeting on February 18, 2022. Approximately 94.57% of votes approved the merger, reflecting about 65.64% of HCCC's outstanding shares. Following the merger, the new entity will operate as Alpha Tau Medical Ltd., with its ordinary shares and warrants set to trade under the symbols DRTS and DRTSW on NASDAQ. Alpha Tau specializes in developing the Alpha DaRT technology for solid tumors.
Healthcare Capital Corp. (NASDAQ: HCCC, HCCCW, HCCCU) announced the adjournment of its special meeting of stockholders, initially scheduled for February 18, 2022, without conducting any business. The meeting will reconvene on the same date at 4:00 PM ET to approve a business combination with Alpha Tau Medical Ltd. Despite sufficient shareholder support for the merger, closing conditions remain unmet. The adjournment allows additional time for these conditions to be satisfied, as detailed in HCCC's proxy statement filed with the SEC on January 14, 2022.
Healthcare Capital Corp. (NASDAQ: HCCC, HCCCW, HCCCU) announced on February 15, 2022, that it has adjourned its special meeting of stockholders to February 18, 2022, to allow more time to meet the closing conditions for its business combination with Alpha Tau Medical Ltd. Although a sufficient number of stockholders had already voted in favor, not all conditions to close have been satisfied. Stockholders can continue to use previous proxy cards for voting, and the record date remains January 13, 2022.
On January 20, 2022, Alpha Tau Medical announced a sponsored research agreement with MD Anderson Cancer Center to explore the combination of Alpha DaRT with DNA-repair inhibitors and immune checkpoint inhibitors for breast cancer treatment. The study, led by experts from MD Anderson, aims to evaluate the efficacy of alpha radiation compared to traditional methods. CTO Ronen Segal emphasized the collaboration's significance in battling aggressive breast cancer. Alpha DaRT enables targeted radiation while minimizing damage to healthy tissue, enhancing the treatment's potential.
The SEC has declared effective the Registration Statement for Healthcare Capital Corp's business combination with Alpha Tau Medical Ltd. The transaction, set to take place on February 15, 2022, will see Alpha Tau publicly listed on NASDAQ under the symbol DRTS. The merger, initially announced in July 2021, aims to advance Alpha Tau's Alpha DaRT technology for treating solid tumors. HCCC stockholders of record as of January 13, 2022, can vote at the virtual Special Meeting. Further details are available in the proxy statement/prospectus mailed to stockholders.
Alpha Tau Medical has completed recruitment for its pivotal clinical trial of Alpha DaRT in Japan, targeting recurrent head and neck cancer patients post-radiotherapy. Preliminary results reported by clinical partner HekaBio are encouraging, aiming for marketing approval via Japan's shonin pathway. CEO Uzi Sofer highlighted the trial as a crucial step toward expanding Alpha DaRT's reach globally, following prior marketing authorization in Israel and plans for a U.S. trial in 2022.
Healthcare Capital Corp. announces that starting March 8, 2021, holders of its 27,500,000 units can trade Class A common stock and warrants separately. These will trade on the Nasdaq under HCCC and HCCCW respectively, while those not separated will continue to trade under HCCCU. The company, a blank check firm, aims to merge or acquire businesses, focusing on the healthcare sector, particularly in digital health, life sciences, and medical technology. The offering was underwritten by Cantor Fitzgerald & Co.
Healthcare Capital Corp. successfully completed its upsized initial public offering, raising $275 million by selling 27.5 million units at $10.00 per unit. The offering includes 3.5 million units issued due to underwriters’ over-allotment option. Trading for the units commenced on Nasdaq under the ticker symbol HCCCU. Each unit comprises one share of Class A common stock and one-half of a redeemable warrant, exercisable at $11.50. The company aims to target mergers in the healthcare sector, particularly in digital health and technology.
Healthcare Capital Corp. has announced the pricing of its upsized IPO, offering 24 million units at $10.00 each. The units will trade on Nasdaq under ticker HCCCU starting January 15, 2021. Each unit includes one share of Class A common stock and a half warrant, with whole warrants allowing purchases of shares at $11.50. The company is focused on potential mergers in the healthcare sector, specifically in digital health, life sciences, and innovative medical devices. Cantor Fitzgerald is the sole bookrunner for this offering.
