Alpha Healthcare Acquisition III closed its 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.
Carmell Therapeutics shares and warrants are expected to begin trading Monday on the Nasdaq Capital Market under the ticker symbols CTCX and CTCXW.
After reservation for certain tax obligations and satisfaction of redemption requests, the Alpha Healthcare III trust retained gross proceeds of approximately $29.4 million, according to a press release.
The SPAC raised $154 million in a 2021 IPO.
The SPAC in an 8-K today said 12,586,223 shares were redeemed ahead of the vote approving the deal.
Last week Alpha III said it signed 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. Read more.
