Research Alliance III Prices $75M IPO, Lists 7.5M Shares at $10
Research Alliance III priced its $75 million IPO of 7,500,000 Class A shares at $10.00 each, listing on Nasdaq Capital Market under RACC on May 20, 2026, with closing expected May 21. The SPAC, led by CEO Matthew Hammond and CBO/COO Henry Stusnick, will pursue healthcare sector business combinations.
1. IPO Pricing and Listing
Research Alliance Corporation III filed an initial public offering of 7,500,000 Class A ordinary shares at $10.00 per share, raising $75 million. The shares began trading on the Nasdaq Capital Market under the symbol RACC on May 20, 2026, with expected closing on May 21 pending customary conditions.
2. Management Team and Sponsor
The SPAC is sponsored by an affiliate of RA Capital Management and led by CEO Matthew Hammond, PhD, MBA, alongside CBO and COO Henry Stusnick. Their combined expertise in life sciences and finance will guide the search for a target company.
3. Business Combination Focus
As a blank check company, RACC aims to complete a business combination in healthcare or healthcare-related industries, leveraging its management’s sector experience. The SPAC can pursue mergers, share exchanges, or asset acquisitions across any geography but prioritizes medical and life sciences targets.
4. Investor Participation and Timeline
Leerink Partners served as sole bookrunner, with institutional investors such as BVF Partners, Janus Henderson, Foresite Capital, and Venrock Healthcare Capital Partners participating. The registration statement was declared effective by the SEC on May 19, 2026, ahead of the anticipated closing.