Alpha Healthcare Acquisition Corp. Announces Shareholder Approval of Business Combination with Humacyte
August 24 2021 - 12:58PM
Alpha Healthcare Acquisition Corp. (Nasdaq: AHAC) (“AHAC”), a
special purpose acquisition company, today announced that its
stockholders voted to approve the previously announced business
combination with Humacyte, Inc., a clinical-stage biotechnology
platform company developing universally implantable bioengineered
human tissue at commercial scale, and all other proposals presented
at AHAC’s special shareholder’s meeting held on August 24, 2021.
AHAC shareholders approved the business combination proposal
with 99.5% votes in favor of the approximately 61.6% of AHAC votes
cast at the meeting. AHAC plans to file the results of the meeting,
as tabulated by an independent inspector of elections, on a Form
8-K with the Securities and Exchange Commission (the “SEC”).
Subject to the satisfaction or waiver of the other customary
closing conditions, the business combination is expected to close
on August 26, 2021. Following the closing, the combined company
will operate as Humacyte, Inc. and on or about August 27, 2021, its
shares of common stock and warrants are expected to begin trading
on the Nasdaq Global Select Market® under the new ticker symbols
“HUMA” and “HUMAW,” respectively.
About HumacyteHumacyte, Inc., is developing a
disruptive biotechnology platform to deliver universally
implantable bioengineered human tissues and organs designed to
improve the lives of patients and transform the practice of
medicine. The Company develops and manufactures acellular tissues
to treat a wide range of diseases, injuries and chronic conditions.
Humacyte’s initial opportunity, a portfolio of human acellular
vessels (HAVs), is currently in late-stage clinical trials
targeting multiple vascular applications, including vascular trauma
repair, arteriovenous access for hemodialysis, and peripheral
arterial disease. Pre-clinical development is also underway in
coronary artery bypass grafts, pediatric heart surgery, treatment
of type 1 diabetes, and multiple novel cell and tissue
applications. Humacyte’s HAVs were the first product to receive the
FDA’s Regenerative Medicine Advanced Therapy (RMAT) expedited
review designation and received priority designation for the
treatment of vascular trauma by the U.S. Secretary of Defense. For
more information, visit www.Humacyte.com.
About Alpha Healthcare Acquisition Corp.Alpha
Healthcare Acquisition Corp. (ticker: AHAC) is a special purpose
acquisition company formed for the purpose of effecting a business
combination with one or more businesses in the healthcare sector.
The company was founded by Mr. Rajiv Shukla who has two decades of
buyouts, investments and operations experience in the healthcare
industry. Mr. Shukla previously served as Chairman and Chief
Executive Officer of Constellation Alpha Capital Corp., a
Nasdaq-listed special purpose acquisition company, that merged
with DermTech, Inc (ticker: DMTK) in August 2019. On February
17, 2021, AHAC announced a definitive agreement to merge with
Humacyte, Inc. along with a concurrent fully committed PIPE
placement of $175 million of AHAC common shares at a price of
$10.00 per share.
Forward-Looking StatementsThis press release
contains forward-looking statements that are based on beliefs and
assumptions and on information currently available. In some cases,
you can identify forward-looking statements by the following words:
“may,” “will,” “could,” “would,” “should,” “expect,” “intend,”
“plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,”
“potential,” “continue,” “ongoing” or the negative of these terms
or other comparable terminology, although not all forward-looking
statements contain these words. These statements involve risks,
uncertainties and other factors that may cause actual results,
levels of activity, performance or achievements to be materially
different from the information expressed or implied by these
forward-looking statements. Although we believe that we have a
reasonable basis for each forward-looking statement contained in
this press release, we caution you that these statements are based
on a combination of facts and factors currently known by us and our
projections of the future, about which we cannot be certain.
Forward-looking statements in this press release include, but are
not limited to, statements regarding the initiation, timing,
progress, and results of our clinical trials; the anticipated
characteristics and performance of our HAVs, our ability to
successfully complete, clinical trials for our HAVs; the
anticipated benefits of our HAVs relative to existing alternatives;
the commercialization of our HAVs and our ability to manufacture at
commercial scale; the implementation of our business model,
strategic plans for our business; the scope of protection we are
able to establish and maintain for intellectual property rights
covering our HAVs and related technology; the timing or likelihood
of regulatory filings and approvals; timing, scope, and rate of
reimbursement for our HAVs; our estimated available market
opportunity; the proposed business combination, including the
timing and structure of the business combination, the proceeds of
the business combination, and the benefits of the business
combination. We cannot assure you that the forward-looking
statements in this press release will prove to be accurate. These
forward-looking statements are subject to a number of significant
risks and uncertainties that could cause actual results to differ
materially from expected results, including, among others, the
ability to complete the business combination due to the failure to
obtain approval from AHAC’s shareholders or satisfy other closing
conditions in the Business Combination Agreement, the occurrence of
any event that could give rise to the termination of the Business
Combination Agreement, the ability to recognize the anticipated
benefits of the business combination, the outcome of any legal
proceedings that may be instituted against AHAC or Humacyte
following announcement of the proposed business combination and
related transactions, the impact of COVID-19 on Humacyte’s business
and/or the ability of the parties to complete the business
combination, the ability to obtain or maintain the listing AHAC’s
common stock on Nasdaq following the proposed business combination,
costs related to the proposed business combination, changes in
applicable laws or regulations, the possibility that AHAC or
Humacyte may be adversely affected by other economic, business,
and/or competitive factors, and other risks and uncertainties,
including those included under the header “Risk Factors” in the
registration statement on Form S-4 filed by AHAC with the SEC and
those included under the header “Risk Factors” in the final
prospectus of AHAC related to its initial public offering. Most of
these factors are outside of AHAC’s and Humacyte’s control and are
difficult to predict. Furthermore, if the forward-looking
statements prove to be inaccurate, the inaccuracy may be material.
In light of the significant uncertainties in these forward-looking
statements, you should not regard these statements as a
representation or warranty by us or any other person that we will
achieve our objectives and plans in any specified time frame, or at
all. The forward-looking statements in this press release represent
our views as of the date of this press release. We anticipate that
subsequent events and developments will cause our views to change.
However, while we may elect to update these forward-looking
statements at some point in the future, we have no current
intention of doing so except to the extent required by applicable
law. You should, therefore, not rely on these forward-looking
statements as representing our views as of any date subsequent to
the date of this press release.
Humacyte Investor
Contact:investors@humacyte.com
Humacyte Media Contact:media@humacyte.com
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