Research Alliance Corporation IV prices $75 million IPO at $10.00 per share
Research Alliance Corporation IV has priced its IPO of 7.5 million shares at $10.00 per share, aiming to raise $75 million. Sponsored by an affiliate of RA Capital Management, L.P., the healthcare-focused SPAC will list on the Nasdaq Capital Market under the ticker symbol RACD on July 13, 2026. Leerink Partners acted as the sole bookrunning manager with participation from numerous institutional investors.
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Research Alliance Corporation IV has priced its initial public offering of 7,500,000 Class A ordinary shares at $10.00 per share to raise $75 million. The special purpose acquisition company, sponsored by an affiliate of RA Capital Management, L.P., intends to focus its search for a target business in the healthcare or healthcare-related industries. The shares are scheduled to list on the Nasdaq Capital Market and trade under the ticker symbol "RACD" beginning July 13, 2026, with the offering expected to close on July 14, 2026, subject to customary closing conditions.
The Company is led by CEO Matthew Hammond, PhD, MBA and CBO/COO Henry Stusnick. It is incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. While the Company may pursue an initial business combination in any business, industry, sector, or geographical location, it believes the expertise of its management team will provide a competitive advantage in the healthcare sector.
Leerink Partners is serving as the sole bookrunning manager for the offering. The financing included participation from a group of institutional investors, including Adage Capital Partners LP, ADAR1 Capital, Affinity Asset Advisors, LLC, Braidwell LP, BVF Partners, Deep Track Capital, Eventide Asset Management, Great Point Partners, LLC, Janus Henderson Investors, Perceptive Advisors, SilverArc Capital, Sirenia Capital Management LP, Spruce Street Capital, TCGX, Trails Edge Capital Partners, and Venrock Healthcare Capital Partners.
A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (SEC) on July 10, 2026. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained from Leerink Partners LLC, Attn: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525 ext. 6105, or by email at syndicate@leerink.com .
Key Offering Details
| Detail | Information |
|---|---|
| Total Shares Offered | 7,500,000 Class A ordinary shares |
| Price Per Share | $10.00 |
| Total Offering Amount | $75,000,000 |
| Exchange | Nasdaq Capital Market |
| Ticker Symbol | RACD |
| Expected Closing Date | July 14, 2026 |
| Sponsor | Affiliate of RA Capital Management, L.P. |
| Sole Bookrunning Manager | Leerink Partners |
What specific sub-sectors within healthcare are the primary targets for acquisition given the management team's expertise?
How will the current market conditions for SPACs impact the timeline for finding a suitable business combination?
What strategic advantages does the sponsorship by RA Capital Management provide in identifying and securing high-potential targets?
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