Corporate ActionApr 26, 2026, 05:20 AM
RACC Proposes $50M IPO of 5M Class A Ordinary Shares
AI Summary
Research Alliance Corp III (RACC), a newly organized blank check company, filed an Amendment No. 1 to its S-1 Registration Statement for an initial public offering. The company proposes to offer 5,000,000 Class A ordinary shares at $10.00 per share, aiming to raise $50,000,000. RACC intends to pursue a business combination in the healthcare or healthcare-related industries within 24 months, leveraging its management team's extensive investment experience in the sector.
Key Highlights
- RACC proposes an initial public offering of 5,000,000 Class A ordinary shares.
- The initial public offering price is set at $10.00 per share.
- The offering aims to raise $50,000,000 in gross proceeds.
- Underwriter has a 45-day option to purchase up to 750,000 additional shares.
- Sponsor, Research Alliance Holdings III LLC, purchased 1,014,706 founder shares for $25,000.
- Sponsor will purchase 695,000 private placement shares for $6,950,000.
- Company must complete an initial business combination within 24 months of closing.
- Up to $3,000,000 of working capital loans may be convertible at $10.00 per share.
Price Impact
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