HealthCor Catalio Acquisition Corp.
HCAQ · 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 Class Beneficially Owned Percentage of Class Voting Control HC Sponsor LLC, listed on Nasdaq in January 2021.
- What it's doing now
- It agreed to buy Hyperfine, 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
- Hyperfine, 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
- 28 January 2021
- size not on file
- Headquarters
- 351 NEW WHITFIELD STREET, GUILFORD, CT, 06437
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Wolterman Dan (Director) · HALE BRETT (CFO and CAO) · TEISSEYRE THOMAS (Chief Operating Officer)
- Listed securities
- HCAQ 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 January 2021IPOpassed
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 Hyperfine, Inc. does — read from hyperfinemri.com on 26 August 2026
Hyperfine, Inc. provides the Swoop® Portable MR Imaging System, an AI-powered, portable brain MRI that uses a magnet with a fraction of the field strength used in conventional MRI. The system is designed to be brought to the point of care, offering diagnostic-quality imaging in settings such as hospitals (ICU and emergency departments), neurology clinics, and pediatrics. It features Optive AI™ software for image reconstruction and is described as safe, comfortable, and requiring no dedicated staff or infrastructure.
HealthcareMedical ImagingStroke CareNeurologyPediatrics
The score
deterministic, from filed fieldsHCAQ 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 — 294 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
HealthCor Catalio Acquisition Corp. was a blank-check company whose common stock traded on the Nasdaq Stock Market under the ticker HCAQ. The company priced its initial public offering on January 28, 2021, with shares sold for cash under SEC file number 333-252002. The registrant was classified under SIC industry code 3845 (Electromedical & Electrotherapeutic Apparatus) and self-described as a blank-check company in its 424B4 prospectus. On December 28, 2021, the company filed an 8-K reporting a change in shell company status under item 5.06, establishing that it had completed a business combination and no longer files as a blank-check vehicle. EDGAR now lists CIK 0001833769 under the name Hyperfine, 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.
The new debt and equity raises provide near-term liquidity (cash of $43.5M at June 30, 2026), but the company still reported a $17.9M six-month operating loss and flagged going-concern risk if revenue doesn't scale or additional funding isn't secured. The $25M undrawn loan tranche and ATM capacity offer potential runway extension, but the effective interest rate of 15.94% and warrant dilution (562,500 shares at $1.20) signal costly capital.
Cash and equivalents rose to $43.5M as of June 30, 2026 (from $35.1M at YE 2025), driven by $13.6M in net debt proceeds and $11.4M from ATM equity sales, extending runway against ongoing operating losses.
The fee footnote is a payment history rather than one computation, and it shows the rate changing mid-registration: $93,474.32 paid on the original $856,776,645.92 at 0.0001091, then $245.79 on October 13, 2021 for an increase of $2,651,471.98 and $702.57 on November 19, 2021 for a further $7,578,974.28, both at 0.0000927. Two targets are being acquired at once. The PIPE is 12,610,000 Class A shares at $10.00 for $126.1 million, against $207,000,000 in the trust account before any redemptions.
Only two of the eight lines are consideration to the targets: 31,569,923 Class A shares to Hyperfine holders and 3,514,795 to Liminal holders. The rest is HealthCor's own capital and structure — 21,314,000 Class A shares, being 20,700,000 sold in its IPO plus 614,000 placed with HC Sponsor LLC; 5,175,000 Class B founder shares and again the Class A they convert into; a 15,237,203 Class B tranche for Hyperfine Series A and Liminal Series A-1 holders, counted again as Class A; and 10,000,000 earn-out shares. The counts assume a closing on November 1, 2021, already past at filing.
The eight-line table is the structure made visible: Hyperfine's holders receive both Class A and Class B stock, and each Class B tranche carries a matching Class A line registered at no additional fee because it converts. The whole calculation assumes a closing date of November 1, 2021 and Hyperfine's shares outstanding as of September 15, 2021, so it is a dated snapshot — if the closing slips or the target's capitalisation moves, the registered amounts stop describing the issuance.
This is a two-target combination with a dual-class outcome: two Class B lines are registered, each with an equal number of Class A shares registered at no additional fee, the pattern used when one class converts one-for-one into the other. Hyperfine's 31,471,747-share line covers its common stock, its Series B, Series C and Series D preferred, and shares issuable on exercise of outstanding options. The whole table assumes a closing date of October 1, 2021 and target share counts as of August 15, 2021, so it is dated in two ways at once.
Show 1 more material filings
The eight-line table is the disclosure: 31,471,747 and 3,521,214 and 21,314,000 Class A shares on separate lines, 5,175,000 and 15,236,323 Class B shares each with matching Class A registered underneath at no additional fee, and a further 10,000,000 Class A shares. Two classes are being created and the same economic interest is registered twice where Class B converts, so summing the table overstates the share count while any single line understates it.
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: Hyperfine (HYPR), the de-SPAC target of HCAQ, reported Q2 2026 revenue of $3.9M (up 44.8% YoY) with a net loss of $9.3M, and reaffirmed full-year 2026 revenue guidance of $20–22M and cash burn of $26–28M. Why it matters: Cash and equivalents rose to $43.5M as of June 30, 2026 (from $35.1M at YE 2025), driven by $13.6M in net debt proceeds and $11.4M from ATM equity sales, extending runway against ongoing operating losses.
What changed: Hyperfine (formerly HCAQ) filed its Q2 2026 10-Q showing revenue of $3.9M for the quarter (up 45% YoY) and $7.8M for six months (up 62% YoY), while net loss narrowed slightly to $9.3M. The company drew $15M on a new $40M senior secured term loan from Horizon Technology Finance (March 2026) and raised $11.4M net via ATM equity sales through June 30, 2026. Why it matters: The new debt and equity raises provide near-term liquidity (cash of $43.5M at June 30, 2026), but the company still reported a $17.9M six-month operating loss and flagged going-concern risk if revenue doesn't scale or additional funding isn't secured. The $25M undrawn loan tranche and ATM capacity offer potential runway extension, but the effective interest rate of 15.94% and warrant dilution (562,500 shares at $1.20) signal costly capital.
going-concern doubtnothing moved · 1 with no prior record of ours
- Going-concern doubt
- stated · unchanged
The clause …“increase revenue from sales, in the longer term, it could result in a substantial doubt about the Company's ability to continue as a going concern. Management believes the net proceeds from the recent offerings, described under”…
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.
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.
Class Beneficially Owned Percentage of Class Voting Control HC Sponsor LLCnamed 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 0001193125-23-019309
Trading & liquidity
Company profile
Directors & officers
- Wolterman DanDirector
- HALE BRETTCFO and CAO
- TEISSEYRE THOMASChief Operating Officer
- Fattori Ruth ADirector
- Dahldorf John TDirector
- ROTHBERG JONATHAN MDirector
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
4 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.
- ROTHBERG JONATHAN Mwith 4 other reporting persons on the same schedule45.6% · SC 13D/ADec 7, 2022 stale
- HC Sponsor LLCwith 3 other reporting persons on the same schedule8.4% · SC 13G/AFeb 14, 2023 stale
- VANGUARD GROUP INC5.6% · SC 13GFeb 13, 2024 stale
- Empyrean Capital Partners, LPwith 2 other reporting persons on the same schedule0.0% · SC 13G/AFeb 10, 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
- Hyperfine Raises $90 Million in Oversubscribed Series D Financing
GlobeNewswireFeb 10, 2021
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
36 full SEC filing texts archived — searchable, never lost.
- Vault note — HCAQ (HealthCor Catalio Acquisition Corp.)
vault-note · /vault/tickers/HCAQ
- Vault deal note — Hyperfine, Inc. (HCAQ)
vault-note · /vault/deals/hyperfine-inc
- Hyperfine Raises $90 Million in Oversubscribed Series D
news · globenewswire.com
- Hyperfine, Inc. and the Swoop® Portable MR Imaging® System
company-site · hyperfinemri.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 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 3845 (Electromedical & Electrotherapeutic Apparatus). The screen found it by filing SHAPE instead — S-1 2021-01-11 → 8-A12B 2021-01-26 → 424B4 2021-01-28 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 3845 + self-described blank check in 424B4 0001104659-21-008877; 424B 0001104659-21-008877 priced 2021-01-28 under S-1 0001104659-21-002582 (file 333-252002, an offering for cash); common ticker HCAQ off 10-Q 0001104659-21-141255 (2021-11-18); lifecycle ACTIVE. The pricing prospectus was filed under SEC file number 333-252002, which belongs to S-1 0001104659-21-002582 (2021-01-11) — 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 2021-01-28). Ending PROVEN, not inferred: CLOSED per 8-K 0001104659-21-153941 (2021-12-28) — 8-K item 5.06 "Change in Shell Company Status" (EDGAR item index, items: 1.01,2.01,3.02,3.03,4.01,5.01,5.02,5.03,5.06,7.01,8.01,9.01). EDGAR now files this CIK as "Hyperfine, 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 "Class Beneficially Owned Percentage of Class Voting Control HC Sponsor LLC" sourced from prospectus definition (10-K) acc 0001104659-21-042599.
[CLOSED-RENAME] EDGAR CIK 0001833769 records "HealthCor Catalio Acquisition Corp." ending 2021-12-22; the registrant continues as "Hyperfine, Inc.". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2021-12-22. 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.