Alpha Healthcare Acquisition Corp.
AHAC · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from Alpha Healthcare Acquisition (Shukla Rajiv), listed on Nasdaq in September 2020.
- What it's doing now
- It agreed to buy Humacyte, Inc.. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Humacyte, Inc.
- Industry
- the deal record does not name the target's industry yet
- Deal value
- not stated in the filings we hold
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 18 September 2020
- size not on file
- Headquarters
- 2525 EAST NORTH CAROLINA HIGHWAY 54, DURHAM, NC, 27713
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Jones Keith Anthony (Director) · Windham-Bannister Susan Richards (Director) · Constantino Michael T. (Director)
- Listed securities
- AHAC common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
1 dated milestoneEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 18 September 2020IPOpassed
IPO size not on file
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- closed
What Humacyte, Inc. does — read from humacyte.com on 26 August 2026
Humacyte is pioneering a platform for the investigation, development, and manufacture of bioengineered human tissues and organs designed to be universally implantable, off-the-shelf, and regenerative. Their technology transforms human cells into tissue engineered products that leverage the body's natural processes to become the patient's own tissue. The company has received FDA approval for Symvess® for the treatment of extremity vascular trauma and is investigating other uses such as dialysis access, tracheal replacement, and coronary artery bypass grafting.
BiotechnologyRegenerative MedicineTissue EngineeringDeal structureSEC-primary — BCA 8-K / S-4 / DEFM14A- PIPE
- ≈ $175M · unsourced
PIPE terms — instrument, coupon, conversion price and any reset floor — are not sourced for this deal. The size above is itself unsourced — a stored figure no filing we hold states — so neither the size nor the terms should be read as cited.
stated in:0001213900-21-017053
The score
deterministic, from filed fieldsAHAC is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Alpha Healthcare Acquisition Corp. was a blank-check company whose common stock traded on the Nasdaq Stock Market under the ticker AHAC. The company priced its initial public offering on September 18, 2020, under SEC file number 333-240374, with shares registered for cash on Form S-1. The registrant self-described as a blank-check company in its 424B4 prospectus and was classified under SEC SIC industry code 2836 (Biological Products, No Diagnostic Substances). The company completed a business combination and no longer files as a separate entity, with Form 25 filed on August 26, 2021 under 17 CFR 240.12d2-2(a)(3) evidencing the substitution of securities. EDGAR now lists CIK 0001818382 under the name Humacyte, Inc.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
This summary is drawn from the cover page and forward-looking section of the report; the financial statements are not covered here. The quarter's figures are stated in the company's earnings release filed the same day (accession 0001104659-26-094440).
The V012 result is an interim analysis of 80 patients and the sBLA has not been filed; approval for dialysis access would be a new indication beyond the existing extremity vascular injury approval. Commercial Symvess revenue remains $0.4 million a quarter.
The deadline is January 27, 2027 and the cure is ten consecutive closes at or above $1.00, which for a company on the Global Select tier means either a genuine re-rating or a reverse split put to stockholders. The filing says the company will consider available options and gives no assurance of compliance. For former AHAC holders the practical risk is a downgrade to the Capital Market tier or delisting, each of which narrows the eligible buyer base well before the deadline arrives.
A $0.96 share price at December 31, 2025 puts the Nasdaq $1.00 minimum bid requirement immediately in play, and total shareholder return collapsed from $177.82 to $33.80 in a single year - an 81% decline. The net loss narrowed sharply to $40.8 million from $148.7 million, so the burn is being contained, but at a sub-dollar price further equity financing would be heavily dilutive. The Alpha Healthcare trust was released at the de-SPAC.
95,000,000 shares is the ceiling on issuance and therefore the measure of dilution for an Alpha Healthcare holder who does not redeem. At this fourth amendment it is stated as a single flat number rather than an itemised build, so the split between merger consideration, any earnout and any assumed equity awards cannot be read off the fee table — a reader has to go into the body for it. The $10.69 is a market average used to compute the fee, not a transaction price.
95,000,000 shares is the ceiling on issuance and therefore the measure of dilution for an AHAC holder who does not redeem. The $10.69 registration price is the March 19, 2021 high-low average, four months old by the date of this amendment, and is used only to compute the fee under Rule 457(f)(1) — so the $1,015,550,000.00 aggregate is arithmetic on a stale price rather than a current valuation of the transaction.
Show 3 more material filings
95,000,000 shares is a single undifferentiated ceiling: unlike most fee tables in this form, it is not broken into consideration, options, earnout and converting founder shares, so a holder cannot see from this table how much of the issuance is closing consideration and how much is contingent or employee equity. The $10.69 per share is a market-based price used only to compute the fee. What the table does fix is the outer bound on dilution for an AHAC holder who does not redeem.
95,000,000 shares is the ceiling on issuance and therefore the measure of what an AHAC public holder is diluted by if they do not redeem. The $10.69 is used only to compute the fee under Rule 457(f)(1), so the $1,015,550,000.00 aggregate is a fee calculation and not a current valuation of the transaction. The cover of this amendment renders its own filing date with a stray space before the comma, which is why no filing date is quoted here.
The approval is qualified in a way most filings are not: the cover says the agreement was approved by all of the members of the board of directors voting on the transaction, rather than by the board unanimously, so the document itself signals that not every director voted. Consideration is formulaic — each Humacyte common share converts at an Exchange Ratio defined in the proxy statement/prospectus and each preferred share on a separate aggregate-number formula — so this first version registers a 95,000,000-share ceiling without stating a per-share ratio.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
What changed: Q2 2026 10-Q of Humacyte, Inc. (Nasdaq: HUMA), with 277,798,105 shares of common stock outstanding as of August 10, 2026. Why it matters: This summary is drawn from the cover page and forward-looking section of the report; the financial statements are not covered here. The quarter's figures are stated in the company's earnings release filed the same day (accession 0001104659-26-094440).
going-concern doubtnothing moved · 1 with no prior record of ours
- Going-concern doubt
- stated · unchanged
The clause …“sales on a timely basis and/or obtain additional capital. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The future viability of the Company is dependent on its ability to generate cash”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Exhibit 99.1 to an 8-K of Humacyte, Inc. (Nasdaq: HUMA): the August 12, 2026 press release reporting Q2 2026 results and a business update. Second quarter Symvess sales were $0.4 million versus $0.1 million a year earlier. Why it matters: The V012 result is an interim analysis of 80 patients and the sBLA has not been filed; approval for dialysis access would be a new indication beyond the existing extremity vascular injury approval. Commercial Symvess revenue remains $0.4 million a quarter.
What changed: Humacyte, Inc., the Alpha Healthcare Acquisition Corp. successor, received a letter from Nasdaq staff on July 31, 2026 stating that for the 30 consecutive business days ended July 30, 2026 the bid price of its common stock closed below the $1.00 minimum required for continued listing on the Nasdaq Global Select Market under Listing Rule 5450(a)(1). Under Rule 5810(c)(3)(A) it has an initial 180 calendar days, until January 27, 2027, to regain compliance by closing at $1.00 or more for at least ten consecutive business days. The stock continues to trade under HUMA. Why it matters: The deadline is January 27, 2027 and the cure is ten consecutive closes at or above $1.00, which for a company on the Global Select tier means either a genuine re-rating or a reverse split put to stockholders. The filing says the company will consider available options and gives no assurance of compliance. For former AHAC holders the practical risk is a downgrade to the Capital Market tier or delisting, each of which narrows the eligible buyer base well before the deadline arrives.
Show the other 10 filings
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Deal completion: 2/2 resolved vehicles closed a deal (100%); 0 liquidated, 0 terminated. No measured post-close outcome yet, so completion credit is NOT gated — missing data is never a penalty. Small sample — the shrink below keeps this near neutral.
Mixed record · low confidence
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
from 424B3 0001104659-26-032107
Trading & liquidity
Company profile
Directors & officers
- Jones Keith AnthonyDirector
- Windham-Bannister Susan RichardsDirector
- Constantino Michael T.Director
- Wallace Max N.Director
- Niklason Laura EDirector
- Sebelius KathleenDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
7 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- AHAC Sponsor LLCwith 1 other reporting person on the same schedule23.3% · SC 13DSep 25, 2020 stale
- FRESENIUS MEDICAL CARE HOLDINGS INC /NY/with 2 other reporting persons on the same schedule17.8% · SC 13D/ANov 18, 2024 stale
- PTC Trustees GY Ltd as Trustee of The GYF Trustwith 1 other reporting person on the same schedule8.7% · SC 13GSep 8, 2021 stale
- BlackRock, Inc.6.3% · SC 13GNov 8, 2024 stale
- Niklason Laura Ewith 2 other reporting persons on the same schedule4.6% · SC 13D/ANov 20, 2024 stale
- GLAZER CAPITAL, LLCwith 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 14, 2022 stale
- Parian Global Management LPwith 3 other reporting persons on the same schedule0.0% · SC 13G/AFeb 9, 2022 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
News
company wires and the financial pressReporting we have matched to this ticker. Headlines belong to the outlets that wrote them.
Show the headlines
- Human tissue developer Humacyte agrees to SPAC merger to go public
Reutersundated by the source
- Press Release - SEC.gov
SEC EDGARundated by the source
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
37 full SEC filing texts archived — searchable, never lost.
- Vault note — AHAC (Alpha Healthcare Acquisition Corp.)
vault-note · /vault/tickers/AHAC
- Vault deal note — Humacyte, Inc. (AHAC)
vault-note · /vault/deals/humacyte-inc
- Universally Implantable Regenerative Human Tissues - Humacyte Global, Inc.
company-site · humacyte.com
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail4 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 2836 (Biological Products, (No Diagnostic Substances)). The screen found it by filing SHAPE instead — S-1 2020-08-04 → 8-A12B 2020-09-17 → 424B4 2020-09-18 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 2836 + self-described blank check in 424B4 0001213900-20-027364; 424B 0001213900-20-027364 priced 2020-09-18 under S-1 0001213900-20-020196 (file 333-240374, an offering for cash); common ticker AHAC off 10-Q 0001213900-21-043027 (2021-08-16); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-240374, which belongs to S-1 0001213900-20-020196 (2020-08-04) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2020-09-18). Ending PROVEN, not inferred: CLOSED per Form 25 0001354457-21-000975 (2021-08-26) — Form 25 filed under 17 CFR 240.12d2-2(a)(3) — the rule for securities that "have come to evidence other securities in substitution therefor", i.e. the shares became the successor's (class: Alpha Healthcare Acquisition Corp. Units). EDGAR now files this CIK as "Humacyte, Inc." — the SPAC's own name is kept here and the successor is the target. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "AHAC Sponsor LLC" (SEC CIK 0001818390) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-20-027215.
[CLOSED-RENAME] EDGAR CIK 0001818382 records "Alpha Healthcare Acquisition Corp." ending 2021-08-26; the registrant continues as "Humacyte, Inc.". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2021-08-26. No deal value is set — a rename says what was acquired, never for how much. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] pipeSizeM=175 from primary filings (0001213900-21-017053).
pipeBasis set to UNSOURCED: the size came from the research seed / an earlier record and no filing we hold states it — surfaces now label it "unsourced"; an LLM re-read to FILED replaces this when credits allow