Alpha Healthcare Acquisition today announced a definitive business combination agreement with Humacyte, a clinical-stage biotechnology platform company developing universally implantable bioengineered human tissue.
Upon closing, the combined company will be named Humacyte and will be led by current CEO Laura Niklason, M.D., Ph.D. The new company’s common stock is expected to list on the Nasdaq under HUMA.
At closing, Humacyte is expected to have a market capitalization of $1.1 billion.
Transaction terms call for a common stock PIPE of approximately $175 million at $10 per share that will close simultaneously with the business combination, as well as up to $100 million held in the SPAC’s trust account, subject to any redemptions. Additionally, existing Humacyte investors will be subject to a 12-month lockup with 50 percent eligible for sale after six months if the 20-day volume weighted average price over any 30-day period equals or exceeds $15. Read more.
