Alpha Healthcare Acquisition Corp. III executed a definitive business combination agreement to acquire Alpha Healthcare Acquisition Corp. III from a group of shareholders for approximately $150 million in a reverse merger transaction.
The transaction has been approved by each of ALPAâs and Carmellâs Board of Directors and is subject to the approval of ALPA and Carmell shareholders, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, the Company has net tangible assets of at least $5,000,001, the Companyâs initial listing application with The Nasdaq Stock Market, the S-4 Registration Statement has become effective and other customary conditions. On July 11, 2023, shareholders of Alpha Healthcare Acquisition Corp. III have approved the transaction. The transaction is expected to close in H1, 2023. The Combined Company is expected to receive gross proceeds of approximately $154 million at the closing of the transaction assuming no redemptions. The Business Combination is expected to close on July 14, 2023.
Jocelyn M. Arel and Laurie A. Burlingame of Goodwin Procter LLP acted as legal advisor to ALPA while Scott R. Jones of Troutman Pepper Hamilton Sanders LLP acted as legal advisor to Carmell. Continental Stock Transfer & Trust Company acted as transfer agent while Morrow & Co., LLC acted as information agent to ALPA. Cabrillo Advisors, LLC acted as financial advisor and fairness opinion provider with a service fee of $200,000 to ALPA.