Healthcare AI Acquisition Corp. Q3 2024 Update

TL;DR

HAIAC Q3 2024: Assets $5.9M, Liabilities $0.5M. Watch out for 5M shares potentially issuing May 2025.

AI Summary

Healthcare AI Acquisition Corp. filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $5,918,510 and total liabilities of $539,060 as of September 30, 2024. A significant subsequent event noted is the potential issuance of 5,000,000 Class A Ordinary Shares on May 14, 2025.

Why It Matters

This filing provides a financial snapshot of Healthcare AI Acquisition Corp. and highlights potential future share issuances, which could impact existing shareholders and the company's capital structure.

Risk Assessment

Risk Level: medium — The company is a SPAC with potential future share issuances and a history of significant losses, indicating inherent financial risks.

Key Numbers

• $5.92M — Total Assets (As of September 30, 2024)
• $0.54M — Total Liabilities (As of September 30, 2024)
• 5,000,000 — Potential Share Issuance (Class A Ordinary Shares on May 14, 2025)

Key Players & Entities

• Healthcare AI Acquisition Corp. (company) — Filer
• 2024-09-30 (date) — Reporting Period End Date
• $5,918,510 (dollar_amount) — Total Assets as of 2024-09-30
• $539,060 (dollar_amount) — Total Liabilities as of 2024-09-30
• 5,000,000 (dollar_amount) — Potential Class A Ordinary Shares issuance
• 2025-05-14 (date) — Potential Share Issuance 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
• $10.20 — he Trust Account is initially set to be $10.20 per public share. The per share amount

Filing Documents

• haia_10q.htm (10-Q) — 734KB
• haia_ex311.htm (EX-31.1) — 12KB
• haia_ex312.htm (EX-31.2) — 12KB
• haia_ex321.htm (EX-32.1) — 4KB
• haia_ex322.htm (EX-32.2) — 4KB
• 0001477932-24-007776.txt ( ) — 3968KB
• haia-20240930.xsd (EX-101.SCH) — 41KB
• haia-20240930_lab.xml (EX-101.LAB) — 234KB
• haia-20240930_cal.xml (EX-101.CAL) — 27KB
• haia-20240930_pre.xml (EX-101.PRE) — 219KB
• haia-20240930_def.xml (EX-101.DEF) — 180KB
• haia_10q_htm.xml (XML) — 614KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements Condensed Balance Sheets as of September 30, 2024 3 Unaudited Condensed Statements of Operations for the Three and Nine Months ended September 30, 2024 4 Unaudited Condensed Statements of Changes in Shareholders' Deficit for the Three and Nine Months ended September 30, 2024 5 Unaudited Condensed Statements of Cash Flows for the Nine Months ended September 30, 2024 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 23 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 31 Item 1A.

Risk Factors

Risk Factors 31 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 34

Signatures

Part III. Signatures 35 2 Table of Contents HEALTHCARE AI ACQUISITION CORP. UNAUDITED INTERIM CONDENSED BALANCE SHEETS September 30, 2024 December 31, 2023 (Unaudited) Assets Cash on hand $ 212 $ 212 Prepaid expenses 20,250 - Total current assets 20,462 212 Prepaid expenses, non-current - - Cash and investments held in trust account 6,827,015 6,588,790 Total assets $ 6,847,477 $ 6,589,002 Liabilities and Shareholders' Equity Accrued offering costs and expenses $ 203,644 $ 241,064 Promissory Note - related Party 539,877 216,449 Due to related party 441,311 135,745 Total current liabilities 1,184,832 593,258 Warrant liability 547,654 552,035 Deferred liabilities - - Deferred underwriting commissions - - Total liabilities 1,732,486 1,145,293 Commitments and Contingencies (Note 6) Class A ordinary share subject to possible redemption, 591,851 shares at redemption value of $ 11.54 and $ 11.13 as of September 30, 2024 and December 31, 2023, respectively 6,827,015 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 September 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 as of September 30, 2024 and December 31, 2023, respectively - - Additional paid-in capital 286,155 524,380 Accumulated deficit ( 1,998,718 ) ( 1,670,000 ) Total Shareholders' Deficit ( 1,712,024 ) ( 1,145,081 ) Total Liabilities, Redeemable Ordinary Shares and Shareholders' Deficit $ 6,847,477 $ 6,589,002 The accompanying notes are an integral part of these

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View this 10-Q filing on SEC EDGAR