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  4. Alpha Tau Medical Ltd. (DRTS) Message Board

Alpha Tau Medical and Healthcare Capital Corp. Ann

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Post# of 46
(Total Views: 440)
Posted On: 03/13/2022 1:19:26 AM
Posted By: swordman
Alpha Tau Medical and Healthcare Capital Corp. Announce Completion of Business Combination

Alpha Tau Is Expected to Commence Trading on Nasdaq Under the Ticker "DRTS" on March 8, 2022

JERUSALEM and WILMINGTON, Del., March 7, 2022 /PRNewswire/ -- Alpha Tau Medical Ltd. (“Alpha Tau”), the developer of the innovative alpha-radiation cancer therapy Alpha DaRT™, and Healthcare Capital Corp. (Nasdaq: HCCC) ("HCCC", a special purpose acquisition company, announced today the successful closing of the previously announced business combination (the “Business Combination”). The combined company will continue to be led by Alpha Tau’s existing management team. Alpha Tau’s ordinary shares and warrants are expected to begin trading on Tuesday, March 8, 2022, on Nasdaq under the ticker symbols "DRTS" and “DRTSW,” respectively.

The transaction, and the various proposals giving effect thereto, were approved by the requisite vote of HCCC stockholders at a special meeting of HCCC’s stockholders held on February 18, 2022. A Current Report on Form 8-K disclosing the full voting results was filed by HCCC with the Securities and Exchange Commission on February 22, 2022. Through completion of the Business Combination, Alpha Tau has raised approximately $90 million in gross cash proceeds.

“We are excited to have reached the successful completion of the merger with HCCC, and appreciate the ongoing support of our existing investors and new joiners to the family, as well as all of the parties involved in bringing this momentous transaction to fruition,” noted Alpha Tau CEO Uzi Sofer. “As we redouble our efforts to bring our Alpha DaRT technology to patients around the world, we are confident that this significant inflow of funds will carry us through a significant number of meaningful milestones.”

Alpha Tau CFO Raphi Levy added, “We are proud to have succeeded in executing on a large fundraising amidst a highly challenging market environment. This will afford us the ability to drive the company forward as we continue to execute on our ambitious plans around the world.”

Advisors-- Citigroup acted as lead financial advisor to Alpha Tau. Ladenburg Thalmann also served as financial advisor to Alpha Tau. Value Base M&A Ltd. acted as financial advisor to HCCC on the transaction. Piper Sandler and Cantor Fitzgerald acted as joint placement agents on the PIPE. Cantor Fitzgerald acted as a capital markets advisor to HCCC.
Latham & Watkins LLP and Meitar | Law Offices acted as legal advisors to Alpha Tau. Ellenoff Grossman & Schole LLP and FBC & Co. acted as legal advisors to HCCC. Winston & Strawn LLP acted as legal advisor to the placement agents.

About Alpha Tau Medical Ltd.

Founded in 2016, Alpha Tau is an Israeli medical device company that focuses on research, development, and potential commercialization of the Alpha DaRT for the treatment of solid tumors. The technology was initially developed by Prof. Itzhak Kelson and Prof. Yona Keisari from Tel Aviv University.



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