Healthcare AI Acquisition and its sponsor, Atticus Ale, entered into a non-redemption agreement with one or more unaffiliated third party or parties who agree not to redeem ordinary shares ahead of the SPAC’s extension vote, according to a regulatory filing.
In return, for every 150,000 non-redeeming Shares, the sponsor has agreed to transfer to the investors 80,000 shares following completion of a merger. Healthcare AI to enter into additional non-redemption agreements prior to the extension vote. The SPAC’s latest NRA filing does not state the total number of shares to be held.
The SPAC wants to extend its termination deadline in monthly increments from Aug. 14 to Dec. 14, with no additional payments into its trust.
Healthcare AI Acquisition raised $200 million in a December 2021 IPO. The company has been focused on businesses in the healthcare and pharmaceutical industry, specifically companies within the e-Clinical, Healthcare Information Technology or Outsourced Pharmaceutical Services industries with high AI readiness and technological transformation potential. Read more.
