Alpha Healthcare Acquisition III in an 8-K said it entered into a forward purchase agreement with Meteora Capital Partners and its affiliated funds. Under the agreement, Meteora will purchase up to 9.5% of the total number of Alpha’s outstanding shares.
The SPAC also inked a non-redemption agreement with Meteora covering 100,000 shares.
Both agreements are in support of the SPAC’s proposed merger with Carmell Therapeutics, a Phase 2 stage regenerative medicine platform company developing allogeneic plasma-based biomaterials for active soft tissue repair, aesthetics and orthopedic indications.
At deal announcement in January, the combined company was expecting to receive gross proceeds of $154 million at closing.
The SPAC’s shareholder vote on the merger is set for July 11. Read more.
