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.
