Research Alliance Corp III Completes $75M IPO and Establishes SPAC Governance

summarizeSummary

Research Alliance Corp III has completed its $75 million IPO and a $2.75 million private placement, fully funding its trust account and establishing its governance framework for future operations.

check_boxKey Events · Financing and Capital Events · RACC

• IPO Consummation

  Research Alliance Corp III completed its initial public offering of 7.5 million Class A ordinary shares at $10.00 per share, generating gross proceeds of $75 million.

• Trust Account Funded

  A total of $75 million from the IPO and a concurrent private placement was deposited into a trust account for the benefit of public shareholders.

• Private Placement Completed

  The Sponsor purchased 275,000 Class A ordinary shares at $10.00 per share in a private placement, generating $2.75 million.

• New Director Appointments

  Michael F. MacLean and Timothy J. Miller were appointed to the board of directors and key committees, receiving Class B shares as compensation.

auto_awesomeAnalysis · RACC · Real Estate & Construction

This 8-K confirms the successful consummation of Research Alliance Corp III's Initial Public Offering (IPO) and a concurrent private placement, establishing the foundational capital and governance structure for the Special Purpose Acquisition Company (SPAC). The $75 million raised in the IPO, combined with the $2.75 million from the private placement, fully funds the trust account, enabling the company to pursue its initial business combination. The detailed agreements, including the amended charter, outline critical operational parameters such as the 80% asset value rule for target businesses, the conversion mechanics for founder shares, and the voting rights for directors, providing clarity on the SPAC's path forward.