Healthcare Capital in an 8-K filing said this morning’s stockholder meeting was adjourned without a vote on the SPAC’s proposed merger with Alpha Tau, an oncology therapy company. It was the second time this week the SPAC convened and adjourned a stockholder meeting without taking action on the deal.
HealthCare Capital on Tuesday announced it had adjourned the meeting until this morning so management would have more time to meet the requirements to close the deal, which has a minimum cash condition of $225 million.
The stockholder meeting is supposed to reconvene today at 4 p.m. Eastern, according to the filing.
As announced in July last year, the transaction is expected to provide up to $367 million in gross proceeds, including up to $275 million of cash held in Healthcare Capital’s trust account (assuming no redemptions) and a $92 million PIPE. Read more.
