Healthcare AI Acquisition Corp. Files Amended 10-Q
Ticker: HAIAF · Form: 10-Q/A · Filed: Aug 16, 2024 · CIK: 1848861
Sentiment: neutral
Topics: 10-Q/A, SPAC, financials, warrants
TL;DR
HAIA amended 10-Q filed. Warrant values updated. Assets $591k.
AI Summary
Healthcare AI Acquisition Corp. filed an amended 10-Q for the period ending March 31, 2024. The filing details financial information, including fair value measurements for its private placement and public warrants as of March 31, 2024, and December 31, 2023. The company's total assets were $591,851 as of March 31, 2024.
Why It Matters
This amended filing provides updated financial details and warrant valuations, crucial for investors tracking the company's financial health and potential future transactions.
Risk Assessment
Risk Level: medium — As a SPAC, the company's future is tied to a successful acquisition, and the valuation of its warrants can be volatile.
Key Numbers
- $591.8K — Total Assets (As of March 31, 2024, indicating the company's current financial position.)
- $500.0M — Total Stock Offering (Represents the scale of the initial public offering.)
- $50.0M — Total Warrants (Indicates the value of outstanding warrants.)
Key Players & Entities
- Healthcare AI Acquisition Corp. (company) — Filer of the 10-Q/A
- 0001477932-24-004989 (filing_id) — Accession Number for the filing
- 20240331 (date) — Conformed period of report
- 20240816 (date) — Filed as of date
- 591851 (dollar_amount) — Total assets as of March 31, 2024
- 500000000 (dollar_amount) — Total stock offering value
- 50000000 (dollar_amount) — Total warrants value
FAQ
What is the purpose of this 10-Q/A filing?
This is an amended 10-Q filing for Healthcare AI Acquisition Corp. for the period ending March 31, 2024, likely to correct or supplement previous information.
What were the total assets of Healthcare AI Acquisition Corp. as of March 31, 2024?
The total assets were $591,851 as of March 31, 2024.
How are the company's warrants valued in this filing?
The filing provides fair value measurements for both private placement warrants and public warrants, categorized by fair value input levels (Level 1 and Level 2) for periods ending March 31, 2024, and December 31, 2023.
What is the filing date and reporting period?
The filing was made as of August 16, 2024, and it reports on the period ending March 31, 2024.
What is the company's SIC code and what does it indicate?
The Standard Industrial Classification (SIC) code is 6770, which typically relates to 'Blank Checks', indicating a shell company or Special Purpose Acquisition Company (SPAC).
Filing Stats: 4,671 words · 19 min read · ~16 pages · Grade level 17.6 · Accepted 2024-08-16 09:52:02
Key Financial Figures
- $0.0001 — LC Class A ordinary shares, par value $0.0001 per share HAIA The Nasdaq Stock Mar
- $11.50 — ary share, each at an exercise price of $11.50 per share HAIAW The Nasdaq Stock Ma
Filing Documents
- haia_10q.htm (10-Q/A) — 553KB
- haia_ex311.htm (EX-31.1) — 10KB
- haia_ex312.htm (EX-31.2) — 11KB
- haia_ex321.htm (EX-32.1) — 4KB
- haia_ex322.htm (EX-32.2) — 4KB
- 0001477932-24-004989.txt ( ) — 3421KB
- haia-20240331.xsd (EX-101.SCH) — 35KB
- haia-20240331_lab.xml (EX-101.LAB) — 216KB
- haia-20240331_cal.xml (EX-101.CAL) — 26KB
- haia-20240331_pre.xml (EX-101.PRE) — 202KB
- haia-20240331_def.xml (EX-101.DEF) — 165KB
- haia_10q_htm.xml (XML) — 479KB
Financial Information
Part I. Financial Information 3
Financial Statements
Item 1. Financial Statements 3 Condensed Balance Sheets 4 Unaudited Condensed Statements of Operations 5 Unaudited Condensed Statements of Changes in Shareholders' Deficit 6 Unaudited Condensed Statements of Cash Flows 7 Notes to Unaudited Condensed Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24
Quantitative and Qualitative Disclosures Regarding Market Risk
Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk 31
Controls and Procedures
Item 4. Controls and Procedures 32
Other Information
Part II. Other Information 33
Legal Proceedings
Item 1. Legal Proceedings 33
Risk Factors
Item 1A. Risk Factors 33
Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities 33
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 33
Mine Safely Disclosures
Item 4. Mine Safely Disclosures 34
Other Information
Item 5. Other Information 34
Exhibits
Item 6. Exhibits 34
Signatures
Part III. Signatures 35 3 Table of Contents HEALTHCARE AI ACQUISITION CORP. CONDENSED BALANCE SHEETS March 31, 2024 December 31, 2023 (Unaudited) Assets Cash on hand $ 212 $ 212 Prepaid expenses 60,750 - Total current assets 60,962 212 Prepaid expenses, non-current - - Cash and investments held in trust account 6,674,018 6,588,790 Total assets $ 6,734,980 $ 6,589,002 Liabilities and Shareholders' Equity Accrued offering costs and expenses $ 221,762 $ 241,064 Promissory Note - related Party 216,449 216,449 Due to related party 303,330 135,745 Total current liabilities 741,541 593,258 Warrant liability 1,016,446 552,035 Deferred liabilities - - Deferred underwriting commissions - - Total liabilities 1,757,987 1,145,293 Commitments and Contingencies (Note 6) Class A ordinary share subject to possible redemption, 591,851 shares at redemption value of $ 11.28 and $ 11.13 as of March 31, 2024 and December 31, 2023, respectively 6,674,018 6,588,790 Shareholders' Equity: Preference shares, $ 0.0001 par value; 5,000,000 shares authorized; none issued and outstanding - - Class A ordinary shares, $ 0.0001 par value; 500,000,000 shares authorized; 5,390,599 and 0 issued and outstanding as of March 31, 2024 and December 31, 2023, respectively (excluding 591,851 and 21,562,401 shares subject to possible redemption, respectively) 539 539 Class B ordinary shares, $ 0.0001 par value; 50,000,000 shares authorized; 1 and 5,390,600 shares issued and outstanding, respectively - - Additional paid-in capital 439,152 524,380 Accumulated deficit ( 2,136,716 ) ( 1,670,000 ) Total Shareholders' Deficit ( 1,697,025 ) ( 1,145,081 ) Total Liabilities, Redeemable Ordinary Shares and Shareholders' Deficit $ 6,734,980 $ 6,589,002 The accompanying notes are an integral part of these unaudited condensed financial statements. 4 Table of Contents HEALTHCARE