Healthcare AI Acquisition (NASDAQ:HAIAU) Issues Current Report, Proposes Business Combination Extension

Healthcare AI Acquisition Corp. recently filed a Form 8-K with the Securities and Exchange Commission, dated November 27, 2024, detailing important corporate developments.

The company disclosed the issuance of an unsecured promissory note amounting to $100,000 to Leading Group Limited for working capital requirements. The note, which matures upon the closing of a business combination, can be repaid in cash in case of liquidation or converted to Class A ordinary shares if a business combination occurs.

In another key move, Healthcare AI Acquisition Corp. held a General Annual Meeting on November 26, 2024, where shareholders approved a proposal to extend the deadline for completing a business combination. The company now has the right to extend this deadline on a month-to-month basis until May 14, 2025, by making monthly deposits into the Trust Account.

At the General Annual Meeting, shareholders also voted on the ratification of Bush Associates CPA LLC as the independent registered public accounting firm for the fiscal year ending December 31, 2024.

In light of the shareholder vote, approximately 192,664 shares were tendered for redemption, with a value of around $2,235,721.75 being withdrawn from the Trust Account. Post-redemptions, Healthcare AI Acquisition Corp. will have 5,789,786 Class A Shares outstanding and roughly $4,632,266.81 remaining in the Trust Account.

The Form 8-K also included the submission of matters to a vote of security holders. Shareholders approved various proposals, including the extension of the business combination deadline and the appointment of auditors.

The company disclosed that a copy of the full text of the promissory note is available as an exhibit in the Form 8-K filing.

This report indicates strategic financial decisions by Healthcare AI Acquisition Corp. as it navigates towards achieving its corporate goals and improving shareholder value. Investors will likely keep a keen eye on how these developments shape the company’s future trajectory.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Healthcare AI Acquisition’s 8K filing here.

Healthcare AI Acquisition Company Profile

Healthcare AI Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in Dover, Delaware.