Alpha Tau Medical and Healthcare Capital closed their merger March 7. The deal was approved last monmth by the SPAC’s shareeholders.
Alpha Tau’s shares and warrants are expected to begin trading today on the Nasdaq under the ticker symbols DRTS and DRTSW.
Alpha Tau is developing alpha-radiation cancer therapy Alpha DaRT™ for the treatment of solid tumors.
Healthcare Capital twice convened and adjourned shareholder meetings in February without voting on the deal, saying it needed more time to satisfy the closing requirements.
The SPAC deal had a minimum cash requirement of $225 million to close, although the news release announcing completion of the deal yesterday notes that Alpha Tau raised $90 million in gross proceeds on the transaction. There is no mention of any waiver of the minimum cash condition in the SPAC’s subsequent SEC filings, however, Healthcare Capital management the day before the shareholder vote opted to forfeit about 4.71 million promote shares and approximately 4.7 private placement shares. Read more.
