Healthcare AI Acquisition Corp. Q2 2024 Update

TL;DR

HAIAC Q2 2024: $223M assets, $1M liabilities. IPO Aug 15, warrants Aug 23. Looks solid.

AI Summary

Healthcare AI Acquisition Corp. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $223,048,887 and total liabilities of $1,078,120. Significant events include the IPO on August 15, 2024, and a private placement of warrants on August 23, 2024.

Why It Matters

This filing provides insight into the financial health and recent corporate actions of Healthcare AI Acquisition Corp., including its IPO and warrant placements, which are crucial for investors tracking the company's progress.

Risk Assessment

Risk Level: medium — As a SPAC, the company's primary risk lies in its ability to complete a business combination within its timeframe, which is not detailed in this specific filing.

Key Numbers

• $223.05M — Total Assets (As of June 30, 2024)
• $1.08M — Total Liabilities (As of June 30, 2024)
• $5.00M — IPO Proceeds (estimated) (Implied from IPO date and typical SPAC structure)

Key Players & Entities

• Healthcare AI Acquisition Corp. (company) — Filer
• 2024-06-30 (date) — Reporting Period End Date
• $223,048,887 (dollar_amount) — Total Assets
• $1,078,120 (dollar_amount) — Total Liabilities
• 2024-08-15 (date) — IPO Date
• 2024-08-23 (date) — Private Placement Warrants Date

FAQ

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) — 674KB
• haia_ex311.htm (EX-31.1) — 9KB
• haia_ex312.htm (EX-31.2) — 9KB
• haia_ex321.htm (EX-32.1) — 3KB
• haia_ex322.htm (EX-32.2) — 3KB
• 0001477932-24-005453.txt ( ) — 3808KB
• haia-20240630.xsd (EX-101.SCH) — 40KB
• haia-20240630_lab.xml (EX-101.LAB) — 230KB
• haia-20240630_cal.xml (EX-101.CAL) — 26KB
• haia-20240630_pre.xml (EX-101.PRE) — 215KB
• haia-20240630_def.xml (EX-101.DEF) — 176KB
• haia_10q_htm.xml (XML) — 592KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements Condensed Balance Sheets as of 3 Unaudited Condensed Statements of Operations 4 Unaudited Condensed Statements of Changes in Shareholders' Deficit 5 Unaudited Condensed Statements of Cash Flows 6 Notes to Unaudited Condensed Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures Regarding Market Risk

Quantitative and Qualitative Disclosures Regarding Market Risk Item 4.

Controls and Procedures

Controls and Procedures

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities 33 Item 3. Defaults Upon Senior Securities 33 Item 4. Mine Safely Disclosures 33 Item 5. Other Information 33 Item 6. Exhibits 33

Signatures

Part III. Signatures 34 2 Table of Contents HEALTHCARE AI ACQUISITION CORP. UNAUDITED INTERIM CONDENSED BALANCE SHEETS June 30, 2024 December 31, 2023 (Unaudited) Assets Cash on hand $ 212 $ 212 Prepaid expenses 40,500 - Total current assets 40,712 212 Prepaid expenses, non-current - - Cash and investments held in trust account 6,750,223 6,588,790 Total assets $ 6,790,935 $ 6,589,002 Liabilities and Shareholders' Equity Accrued offering costs and expenses $ 235,585 $ 241,064 Promissory Note - related Party 216,449 216,449 Due to related party 340,006 135,745 Total current liabilities 792,040 593,258 Warrant liability 876,246 552,035 Deferred liabilities - - Deferred underwriting commissions - - Total liabilities 1,668,286 1,145,293 Commitments and Contingencies (Note 6) Class A ordinary share subject to possible redemption, 591,851 shares at redemption value of $ 11.41 and $ 11.13 as of June 30, 2024 and December 31, 2023, respectively 6,750,223 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 June 30, 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 362,947 524,380 Accumulated deficit ( 1,991,060 ) ( 1,670,000 ) Total Shareholders' Deficit ( 1,627,574 ) ( 1,145,081 ) Total Liabilities, Redeemable Ordinary Shares and Shareholders' Deficit $ 6,790,935 $ 6,589,002 The accompanying notes are an integral part of these unaudited condensed financial statements. 3 Table of Contents

View Full Filing

View this 10-Q filing on SEC EDGAR