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HH&L Acquisition Co.

HHLA · NYSE

Trust settledFinished

NO ACTION REQUIRED

Nothing left to do

The cash went back to shareholders and the company wound up. There is no deadline left to miss.

Cash at settlement

no closing figure

No cash-per-share figure was filed for this vehicle before it finished.

Last close

no quote on file

Daily close

Nothing left to claim

this vehicle finished

There is nothing to hand back: the trust was already paid out to holders pro rata.

Read what happened to the cash

The floor

Trust settled

This SPAC has finished — its trust was paid out or used to close the deal, so there is nothing left to redeem

Read the reasoning behind this verdict

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 trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.

In plain terms

What it is
A SPAC from HIGHBRIDGE CAPITAL MANAGEMENT LLC, listed on NYSE in February 2021.
What it's doing now
It never completed a purchase. The company wound up and the cash in the account went back to shareholders — the ordinary ending when a SPAC runs out of time. No agreed deal for it is on file with us, so we cannot say whether one was ever announced and later fell through.
What you should know
This SPAC has finished. The cash was paid back to shareholders and the company wound up, so there is nothing left to claim — the money went where the charter said it would.

At a glance

Where it stands
Liquidated
Deal
none — it wound up and returned the cash instead
Industry
no filing we hold states a sector this SPAC restricted its search to
Deal value
no deal to value — it wound up instead
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
8 February 2021
size not on file · 100.0% of each $10 unit into trust
Headquarters
C/O SAPPHIRE QI LI, ONE EXCHANGE SQUARE, CENTRAL, K3, 00000
Lead underwriter
not extracted from the prospectus yet
Key officers
Li Qi (Director) · Sulger Derek Nelsen (Director) · Hitchner Kenneth W (Director)
Listed securities
HHLA common
Cash held per sharenot filed for this window

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.

Shares already handed backthe filing does not state a pre-event share count

At the 9 May 2023 event.

0001410578-23-001209opens on sec.gov in a new tab

Next date that mattersno dated event on file

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.

  1. The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.

What has happened, and what is coming

3 dated milestones

Every 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.

  1. 8 February 2021IPOpassed

    IPO size not on file

  2. 7 February 2023Shares handed backpassed0001410578-23-001209opens on sec.gov in a new tab

    redemption rate not stated in the filing

  3. 9 May 2023Shares handed backpassed0001410578-23-001209opens on sec.gov in a new tab

    redemption rate not stated in the filing

Who has already taken their money back

2 filed events

Each time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.

Worst single event

—

no filing states a pre-event share count

Shares redeemed, all events

35.17M

across every filed redemption event

Every figure below is stated in the linked filing; nothing here is estimated.

Show the other 1 cash-out event

The score

deterministic, from filed fields

HHLA 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.

Asymmetric return scoreNeither a price nor a cash-per-share figure is on file for this vehicle, and the score is a ratio between the two. Nothing is estimated to fill the gap.

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.

See the names that are scored, and how

The company

from SEC filings
Read the full profile

HH&L Acquisition Co. was a blank-check company whose common stock traded on the New York Stock Exchange under the ticker HHLA, assigned SEC CIK 0001824185 and classified under SIC industry code 8071 (Services-Medical Laboratories). The company priced its initial public offering on February 8, 2021, as documented in a 424B4 prospectus (accession 0001104659-21-013544) filed under S-1 0001104659-21-005777 (SEC file number 333-252254), a registration of shares sold for cash. The registrant described itself as a blank-check company in that same prospectus. On February 7, 2024, the company filed an 8-K (accession 0001104659-24-011464) announcing that it would redeem all outstanding public shares effective as of the close of business on February 23, 2024, having been unable to consummate an initial business combination, thereby winding up and returning trust cash to shareholders.

Material findings

from the full read of every filing

Every 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.

  • DEF 14A31 July 20230001104659-23-085815opens on sec.gov in a new tab

    The DiaCarta deal was terminated six weeks before this meeting, so shareholders are being asked to fund six more months of searching with no target at all. Worse, the extension requires no trust deposit whatsoever, meaning the per-share redemption value stops growing while the deadline moves and holders receive nothing for waiting. Board discretion over each monthly step removes shareholders from every subsequent decision. Against a terminated deal and zero extension payments, redeeming at the current pro rata trust value is the outcome the document itself makes hardest to argue against.

  • DEF 14A12 April 20230001104659-23-044564opens on sec.gov in a new tab

    A three-month first phase followed by monthly steps is a structure that keeps the sponsor's commitment short and reversible, so holders who stay have no assurance the full nine months to February 2024 will be used. The DiaCarta transaction has been pending since October 2022 and has already required one charter amendment in February 2023, so this is the second extension for the same deal. Redemption at pro rata trust value remains available at this vote and is the only outcome under a holder's own control.

  • S-4/A23 January 20230001104659-23-005900opens on sec.gov in a new tab

    BOTH sides domesticate from the Cayman Islands into Delaware before the merger — the SPAC and the target each undergo their own domestication — so the transaction has two separate jurisdictional migrations that must complete in sequence before the merger itself, each an additional step that can slip. The registered ceiling is 87,400,000 shares plus 20,700,000 redeemable warrants, the warrant leg being roughly 24% of the share leg. The underlying agreement was amended three days before this filing. No vote date is stated in this portion.

  • DEF 14A17 January 20230001104659-23-004238opens on sec.gov in a new tab

    Two of the three extension steps can be taken by board resolution alone, so approving this proposal surrenders the redemption windows that would otherwise accompany each further extension. Holders may redeem at this meeting for their pro rata share of the trust regardless of how they vote. HH&L ultimately liquidated, so the DiaCarta transaction never closed and that February 2023 redemption was the value available.

  • S-4/A30 December 20220001104659-22-131117opens on sec.gov in a new tab

    The registered ceiling of 87,400,000 shares plus 20,700,000 redeemable warrants is set at this amendment and holds unchanged in the version that follows. The double domestication — both the SPAC and the target migrating from the Cayman Islands to Delaware before the merger — is present from this version, and each migration is a separate step that must complete before the merger itself. No vote date is stated in this portion.

  • S-414 November 20220001104659-22-117352opens on sec.gov in a new tab

    This is the baseline of the HH&L / DiaCarta registration and the ceiling — 87,400,000 shares plus 20,700,000 redeemable warrants — is fixed from the outset and does not change through either amendment. The double domestication, with both the SPAC and the target migrating from the Cayman Islands to Delaware before the merger, is present from this first filing; each is a separate step that must complete in sequence. No vote date is stated.

Filings

live EDGAR feed

Everything 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 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

Cash in trust at IPO$10.00

Unit: U = S + W/2 · 100.0% of the $10 unit

from 424B4 0001104659-21-013544

Trading & liquidity

Average daily volume (20d)no volume reported on the bars we hold
Average daily $ volumeneeds both volume and a live price
Range over the bars heldnot enough price history
Total cash in trustthe trust total is not in the last XBRL stamp

Company profile

Industry (SIC)Services-Medical Laboratories (8071)
Registered innot stated in SEC submissions
Exchange · CIKNYSE · 0001824185

All filings on EDGARopens on sec.gov in a new tab

Directors & officers

Institutional holders

from SC 13G/13D

Funds 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

15 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.

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.

Sources on file

harvested pages, kept in full

Every public page we have read about this company, stored in full so a source can never go missing.

Show the sources

39 full SEC filing texts archived — searchable, never lost.

In plain English

tap a term to open it

Every 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 filings
Data provenance & audit trail2 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.

HHLA — company record
UNIVERSE-IPO-INDEX2026-08-17

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 8071 (Services-Medical Laboratories). The screen found it by filing SHAPE instead — S-1 2021-01-20 → 8-A12B 2021-02-04 → 424B4 2021-02-08 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 8071 + self-described blank check in 424B4 0001104659-21-013544; 424B 0001104659-21-013544 priced 2021-02-08 under S-1 0001104659-21-005777 (file 333-252254, an offering for cash); common ticker HHLA off 8-K 0001104659-24-011464 (2024-02-07); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-252254, which belongs to S-1 0001104659-21-005777 (2021-01-20) — 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 2021-02-08). Ending PROVEN, not inferred: LIQUIDATED per 8-K 0001104659-24-011464 (2024-02-07) — announced redemption of all public shares: “…will redeem all of its outstanding ordinary shares that were included in the units issued in its initial public offering (the "Public Shares"), effective as of the closing of business on February 23, 2024, as the Company will not be able to consummate an initial business combination (the "Business Combination") on or b…”. 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-ID2026-08-14

sponsor "HIGHBRIDGE CAPITAL MANAGEMENT LLC" (SEC CIK 0000919185) sourced from Form 3 reportingOwner (10% owner) acc 0000902664-23-004461.

Also listed inSPACs with warrantsTerminations & liquidations
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