Chardan Healthcare Acquisition 2 Corp.
CHAQ · NYSE · formerly Chardan Healthcare Acquisition III Corp.
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 RTW INVESTMENTS, LP, listed on NYSE in April 2020.
- What it's doing now
- It agreed to buy Renovacor, 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
- Renovacor, Inc. — Renovacor is a biotechnology company focused on delivering innovative precision therapies to improve the lives of patients and families battling genetically-driven cardiovascular and mechanistically-related diseases.
- 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
- 28 April 2020
- size not on file
- Headquarters
- 201 BROADWAY, CAMBRIDGE, MA, 02139
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- no Form 3/4 ownership filing captured yet
- Listed securities
- CHAQ 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.
- 28 April 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.
- closedDeal structureSEC-primary — BCA 8-K / S-4 / DEFM14A
- Min-cash condition
- $85M
- Break fee
- $2M
The score
deterministic, from filed fieldsCHAQ 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
Chardan Healthcare Acquisition 2 Corp. was a blank-check company whose common stock traded on the New York Stock Exchange under the ticker RCOR. The company priced its initial public offering on April 28, 2020, under SEC file number 333-236977, with the pricing prospectus filed as 424B4 accession 0001213900-20-010258 under S-1 0001213900-20-005640, and was classified under SEC SIC industry code 2836 (Biological Products, No Diagnostic Substances). The vehicle completed a business combination and no longer files, with the closing established by Form 25 (accession 0001143313-22-000071) filed on December 1, 2022, under 17 CFR 240.12d2-2(a)(3), reflecting that the shares came to evidence other securities in substitution therefor. The successor registrant, Rocket Pharmaceuticals, Inc. (RCKT, RCKTW; CIK 0001281895), filed an 8-K on October 14, 2022, carrying item 2.01 (Completion of Acquisition) naming Chardan Healthcare Acquisition 2 Corp., and EDGAR now files CIK 0001799850 under the name Renovacor, 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.
An implied $2.60 per Renovacor share is roughly a quarter of the $10.00 per share the Chardan Healthcare 2 trust originally held, so legacy SPAC holders who rolled into the deal instead of redeeming crystallise a loss of about 74% in this exchange. The ratio is subject to adjustment and the final value will not be known when Renovacor stockholders vote, so the $2.60 figure is indicative rather than fixed. Holders receive Rocket stock rather than cash, converting a failed gene therapy position into exposure to a larger developer.
6,500,000 shares is the entire consideration for all of Renovacor's equity interests, with a contingent right to up to 2,000,000 further shares as Earnout Consideration. Renovacor's preferred and common holders convert at separate rates — the Preferred Per Share and Common Per Share Merger Consideration — so the preferred is served out of the same fixed pool ahead of the common. Renovacor options become options over Chardan stock on the same vesting terms, and ten separate charter proposals, 2A through 2J, travel with the deal vote.
This is a small transaction by the standards of the form: the filing fee is computed on a proposed maximum aggregate transaction value of $85,000,000, including the stock consideration. Renovacor's preferred and common stock convert at separate ratios — the Preferred Per Share Merger Consideration and the Common Per Share Merger Consideration — and Renovacor options are exchanged at the common ratio while keeping their existing vesting terms. Neither the special meeting date nor the record date is filled in, so no redemption deadline can be read from this version.
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.
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.
RTW INVESTMENTS, LPnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1284 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
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 0000950170-22-024572
Trading & liquidity
Company profile
Directors & officers
No Form 3/4 ownership filing has been captured for this SPAC yet, so the roster is empty rather than guessed.
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.
- RTW INVESTMENTS, LPwith 2 other reporting persons on the same schedule11.1% · SC 13D/AApr 5, 2023 stale
- Broadview Ventures I LLCwith 1 other reporting person on the same schedule5.8% · SC 13DSep 13, 2021 stale
- Altium Capital Management LPwith 2 other reporting persons on the same schedule5.0% · SC 13GFeb 14, 2022 stale
- Oliveira Steven Michaelwith 1 other reporting person on the same schedule3.3% · SC 13G/AJan 19, 2022 stale
- CITADEL ADVISORS LLCwith 6 other reporting persons on the same schedule0.1% · SC 13G/AFeb 14, 2023 stale
- PERISCOPE CAPITAL INC.0.0% · SC 13G/AFeb 14, 2022 stale
- K2 PRINCIPAL FUND, L.P.with 3 other reporting persons on the same schedule0.0% · SC 13G/AJan 18, 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
- Untitled
SEC EDGARundated by the source
- Renovacor, Inc. Closes Its Business Combination with Chardan ...
Business Wireundated by the source
- Rocket Pharmaceuticals to Acquire Renovacor, Extending ...
Business Wireundated 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 — CHAQ (Chardan Healthcare Acquisition 2 Corp.)
vault-note · /vault/tickers/CHAQ
- Vault deal note — Renovacor, Inc. (CHAQ)
vault-note · /vault/deals/renovacor-inc
- d381116dex991.htm — CHAQ 8-K 0001193125-22-192015
exhibit · sec.gov
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 trail3 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 2020-03-09 → 8-A12B 2020-04-23 → 424B4 2020-04-28 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 2836 + self-described blank check in 424B4 0001213900-20-010258; 424B 0001213900-20-010258 priced 2020-04-28 under S-1 0001213900-20-005640 (file 333-236977, an offering for cash); common ticker CHAQ off 10-Q 0001213900-21-043183 (2021-08-17); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-236977, which belongs to S-1 0001213900-20-005640 (2020-03-09) — 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 2020-04-28). Ending PROVEN, not inferred: CLOSED per Form 25 0001143313-22-000071 (2022-12-01) — 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: Common Stock and Warrants); the successor registrant ROCKET PHARMACEUTICALS, INC. (RCKT, RCKTW) (CIK 0001281895) filed an 8-K carrying item 2.01 (Completion of Acquisition) naming "Chardan Healthcare Acquisition 2 Corp." — the SPAC merged into a new registrant and so filed no closing report of its own. EDGAR now files this CIK as "Renovacor, 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 "RTW INVESTMENTS, LP" (SEC CIK 0001493215) sourced from Form 3 reportingOwner (10% owner) acc 0001493152-21-018076.
[CLOSED-RENAME] EDGAR CIK 0001799850 records "Chardan Healthcare Acquisition 2 Corp." ending 2021-09-03; the registrant continues as "Renovacor, Inc.". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2021-09-03. 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] minCashM=85, terminationFeeM=1.74 from primary filings (0001193125-21-236673, 0001140361-22-039152).