RA Capital-backed SPAC Research Alliance Corp III agrees to merge with Oak Hill Bio in USD 175 million deal
RACC•Closing timing and use of proceeds
Closing is expected by year-end 2026; Oak Hill Bio CEO Josh Distler is set to lead the combined company.
Cash is slated to advance rugonersen, an antisense therapy for Angelman syndrome, through Phase 3 readout and potential NDA submission in 2H 2029.
Oak Hill Bio to combine with Research Alliance Corp III
Oak Hill Bio agreed to combine with Research Alliance Corporation III, creating a Nasdaq-listed rare-disease biotech expected to trade as OAKH.
The deal implies about $175 million in gross proceeds, including $75 million from RACC’s trust account and a $100 million committed private financing.
RA Capital funded $45 million at signing via a SAFE; the remaining amount is expected at closing through a PIPE priced at USD 10 per share.
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