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Name | Symbol | Market | Type |
---|---|---|---|
Alpha Healthcare Acquisition Corporation III | NASDAQ:ALPAU | NASDAQ | Trust |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 9.75 | 8.51 | 11.17 | 0 | 01:00:00 |
☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Delaware |
- 40228 |
86-1645738 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
Units, each consisting of one share of Class A Common Stock and one-fourth of one Redeemable Warrant |
ALPAU |
The Nasdaq Stock Market LLC | ||
Class A Common Stock, par value $0.0001 per share |
ALPA |
The Nasdaq Stock Market LLC | ||
Redeemable Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 |
ALPAW |
The Nasdaq Stock Market LLC |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer |
☒ | Smaller reporting company | ☒ | |||
Emerging growth company | ☒ |
March 31, 2022 |
December 31, 2021 |
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(Unaudited) |
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Assets |
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Current assets: |
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Cash |
$ | 594,733 | $ | 774,192 | ||||
Prepaid expenses |
161,346 | 198,983 | ||||||
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|
|
|
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Total current assets |
756,079 | 973,175 | ||||||
Marketable securities held in trust account |
154,456,733 | 154,449,121 | ||||||
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|
|
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Total assets |
$ |
155,212,812 |
$ |
155,422,296 |
||||
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|
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Liabilities and Shareholders’ Equity (Deficit) |
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Current liabilities: |
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Accrued offering costs |
$ | 84,700 | $ | 112,485 | ||||
Accrued expenses |
562,240 | 215,247 | ||||||
Due to related party |
1,113 | 2,275 | ||||||
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|
|
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Total current liabilities |
648,053 | 330,007 | ||||||
Deferred underwriting fees payable |
5,405,436 | 5,405,436 | ||||||
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|
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Total liabilities |
6,053,489 | 5,735,443 | ||||||
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|
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Commitments and Contingencies (Note 5) |
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Class A common stock, $0.0001 par value; 100,000,000 shares authorized; 15,444,103 shares subject to possible redemption issued and outstanding |
154,456,733 | 154,449,121 | ||||||
Shareholders’ equity (deficit): |
||||||||
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding |
— | — | ||||||
Class A common stock, $0.0001 par value; 100,000,000 shares authorized; 463,882 not subject to possible redemption issued and outstanding (excluding 15,444,103 shares subject to possible redemption) |
46 | 46 | ||||||
Class B common stock, $0.0001 par value; 10,000,000 shares authorized; 3,861,026 shares issued and outstanding |
386 | 386 | ||||||
Additional paid-in capital |
— | — | ||||||
Accumulated deficit |
(5,297,842 | ) | (4,762,700 | ) | ||||
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|
|
|
|||||
Total shareholders’ deficit |
(5,297,410 |
) |
(4,762,268 |
) | ||||
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|
|||||
Total Liabilities and Shareholders’ Deficit |
$ |
155,212,812 |
$ |
155,422,296 |
||||
|
|
|
|
For the three months ended March 31, 2022 |
For the period from January 21, 2021 (inception) through March 31, 2021 |
|||||||
General and administrative expenses |
$ | 535,142 | $ | 1,211 | ||||
|
|
|
|
|||||
Loss from operations |
(535,142 | ) | (1,211 | ) | ||||
Other income: |
||||||||
Dividend and interest income |
7,612 | — | ||||||
|
|
|
|
|||||
Net los s |
$ | (527,530 | ) | $ | (1,211 | ) | ||
|
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|
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Weighted average shares outstanding of Class A common stock subject to possible redemption |
15,444,103 | — | ||||||
Basic and diluted net loss per share, Class A common stock subject to possible redemption (see Note 2) |
$ | (0.03 | ) | $ | (0.00 | ) | ||
Weighted average shares outstanding of Class A common stock |
463,882 | — | ||||||
Basic and diluted net loss per share, Class A common stock (see Note 2) |
$ | (0.03 | ) | $ | (0.00 | ) | ||
Weighted average shares outstanding of Class B common stock |
3,861,026 | 3,750,000 | (1) | |||||
Basic and diluted net loss per share, Class B common stock (see Note 2) |
$ | (0.03 | ) | $ | (0.00 | ) |
(1) | This share quantity excludes up to 562,500 shares of common stock subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters. On March 1, 2021, the Company effected a 1:1.2 stock split of its common stock which resulted in an aggregate of 4,312,500 shares of Class B common stock outstanding. All shares and associated amounts have been retroactively restated to reflect the stock split. |
Common Stock Subject to Possible Redemption |
Common Stock |
Additional |
Total |
|||||||||||||||||||||||||||||||||
Class A |
Class A |
Class B |
Paid-in |
Accumulated |
Shareholders’ |
|||||||||||||||||||||||||||||||
Shares |
Amount |
Shares |
Amount |
Shares |
Amount |
Capital |
Deficit |
Deficit |
||||||||||||||||||||||||||||
Balance - January 1, 2022 |
15,444,103 |
$ |
154,449,121 |
463,882 | $ |
46 |
3,861,026 |
$ |
386 |
$ |
— |
$ |
(4,762,700 |
) |
$ |
(4,762,268 |
) | |||||||||||||||||||
Change in redemption value of Class A Common stock subject to possible redemption due to dividend and interest income earned |
— | 7,612 | — | — | — | — | — | (7,612 | ) | (7,612 | ) | |||||||||||||||||||||||||
Net loss |
— | — | — | — | — | — | — | (527,530 | ) | (527,530 | ) | |||||||||||||||||||||||||
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Balance – March 31, 2022 |
15,444,103 |
$ |
154,456,733 |
463,882 |
$ |
46 |
3,861,026 |
$ |
386 |
$ |
— |
$ |
(5,297,842 |
) |
$ |
(5,297,410 |
) | |||||||||||||||||||
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Common Stock Subject to Possible Redemption |
Common Stock |
Additional |
Total |
|||||||||||||||||||||||||||||||||
Class A |
Class A |
Class B |
Paid-in |
Accumulated |
Shareholders’ |
|||||||||||||||||||||||||||||||
Shares |
Amount |
Shares |
Amount |
Shares |
Amount |
Capital |
Deficit |
Equity |
||||||||||||||||||||||||||||
Balance - January 21, 2021 (inception) |
— |
$ |
— |
$ |
— |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
||||||||||||||||||||||
Class B common stock issued to Sponsor (1) |
— | — | — | — | 4,312,500 | 431 | 24,569 | — | 25,000 | |||||||||||||||||||||||||||
Net loss |
— | — | — | — | — | — | — | (1,211 | ) | (1,211 | ) | |||||||||||||||||||||||||
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Balance – March 31, 2021 |
— |
$ |
— |
— |
$ |
— |
4,312,500 |
$ |
431 |
$ |
24,569 |
$ |
(1,211 |
) |
$ |
23,789 |
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(1) | This share quantity includes up to 562,500 shares of common stock subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters. On March 1, 2021, the Company effected a 1:1.2 stock split of its common stock which resulted in an aggregate of 4,312,500 shares of Class B common stock outstanding. All shares and associated amounts have been retroactively restated to reflect the stock split. |
For the three months ended March 31, 2022 |
For the period from January 21, 2021 (inception) through March 31, 2021 |
|||||||
Cash Flows from Operating Activities: |
||||||||
Net loss |
$ | (527,530 | ) | $ | (1,211 | ) | ||
Adjustments to reconcile net loss to net cash used in operating activities |
||||||||
Interest earned in trust account |
(7,612 | ) | — | |||||
Changes in current assets and liabilities: |
||||||||
Prepaid expenses |
37,637 | — | ||||||
Accrued expenses |
346,993 | 1,211 | ||||||
Due to related party |
(1,162 | ) | — | |||||
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|
|
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Net cash used in operating activities |
(151,674 | ) | — | |||||
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Cash Flows from Financing Activities: |
||||||||
Payment of offering costs |
(27,785 | ) | — | |||||
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Net Change in Cash |
179,459 | — | ||||||
Cash – beginning of period |
774,192 | — | ||||||
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Cash - end of period |
$ | 594,733 | $ | — | ||||
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Supplemental Disclosure of cash flow information: |
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Offering costs paid by Sponsor in exchange for issuance of Class B common stock |
$ | — | $ | 25,000 | ||||
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|
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Deferred offering costs included in accrued offering costs |
$ | — | $ | 12,500 | ||||
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Offering costs included in accrued offering costs |
$ | 84,700 | $ | — | ||||
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Accretion of the interest earned in trust account |
$ | 7,612 | $ | — | ||||
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Class A subject to possible redemption |
Class A |
Class B |
||||||||||
Allocation of undistributable losses |
(412,121 | ) | (12,379 | ) | (103,030 | ) | ||||||
Net income/(loss) to Common shares |
$ | (412,121) | $ | (12,379) | $ | (103,030) | ||||||
Weighted average shares outstanding, basic and diluted |
15,444,103 | 463,882 | 3,861,026 | |||||||||
Basic and diluted net loss per share |
$ | (0.03) | $ | (0.03) | $ | (0.03) | ||||||
• | Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; |
• | Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and |
• | Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. |
• | in whole and not in part; |
• | at a price of $0.01 per warrant; |
• | upon a minimum of 30 days’ prior written notice of redemption; and |
• | if, and only if, the closing price of the common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like and for certain issuances of Class A common stock and equity-linked securities for capital raising purposes in connection with the closing of the initial Business Combination) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders (the “Reference Value”). |
* | Filed herewith. |
** | Furnished herewith. |
ALPHA HEALTHCARE ACQUISITION CORP. III | ||
By: | /s/ Rajiv Shukla | |
Name: Rajiv Shukla | ||
Title: Chief Executive Officer | ||
ALPHA HEALTHCARE ACQUISITION CORP. III | ||
By: | /s/ Patrick A. Sturgeon | |
Name: Patrick A. Sturgeon | ||
Title: Chief Financial Officer |
1 Year Alpha Healthcare Acquisi... Chart |
1 Month Alpha Healthcare Acquisi... Chart |
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