Corporate ActionMay 21, 2026, 04:07 PM
Research Alliance Corp III Prices $75M IPO at $10.00/Share
AI Summary
Research Alliance Corporation III announced the pricing and closing of its initial public offering of 7,500,000 Class A ordinary shares at $10.00 per share, generating gross proceeds of $75,000,000. Simultaneously, the company completed a private placement of 275,000 Class A ordinary shares to its Sponsor for $2,750,000. A total of $75,000,000 from the IPO and private placement proceeds was deposited into a trust account for public shareholders. The shares began trading on Nasdaq under "RACC" on May 20, 2026.
Key Highlights
- Priced initial public offering of 7,500,000 Class A ordinary shares.
- IPO shares sold at $10.00 per share, generating $75,000,000 gross proceeds.
- Completed private placement of 275,000 Class A shares to Sponsor for $2,750,000.
- A total of $75,000,000 deposited into a trust account for public shareholders.
- Shares listed on Nasdaq Capital Market under ticker "RACC" starting May 20, 2026.
- Entered into an Underwriting Agreement with Leerink Partners LLC.
- Company is a SPAC focused on healthcare or healthcare-related industries.
Price Impact
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