RACD SEC filings, in plain English
Everything Research Alliance Corp IV has filed with the SEC that we hold — 22 filings, newest first, 20 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Quarterly report (Form 10-Q) for Research Alliance Corp IV for the period from inception to June 30, 2026, prior to its IPO closing on July 14, 2026. The SPAC completed its IPO and private placement after the quarter end, depositing $75,000,000 in the trust account at $10.00 per share. No business combination target has been identified; no substantive discussions have occurred. The company reported a net loss of $41,013 for the pre-IPO period. Why it matters: Confirms that the SPAC is in its early stage with no deal progress. Investors should note the 24-month deadline from July 14, 2026 (July 2028). Trust value is $10.00 per share. No changes to redemption terms or sponsor arrangements.
What changed: A Joint Filing Agreement (Exhibit 99.1) attached to a Schedule 13D compliance submission. This exhibit contains only procedural authorization from Research Alliance Holdings IV LLC and Matthew Hammond to file a single consolidated beneficial ownership statement under SEC Rule 13(d)(1)(k) covering Research Alliance Corporation IV Class A ordinary shares, par value $0.0001 per share. The agreement stipulates that either party may terminate it upon one week’s written notice. The text does not disclose share quantities, acquisition dates, purchase prices, or stated transaction purposes. Consequently, the filing reports no modifications to the SPAC’s redemption deadline, trust account balance, extension voting provisions, merger pipeline status, or sponsor operational conduct. Why it matters: Although functionally a routine administrative cover page, the establishment of a joint filing arrangement confirms that Research Alliance Holdings IV LLC and its manager have triggered or are coordinating around statutory beneficial ownership thresholds for RACD common stock. For investors monitoring pre-deal positioning ahead of the fund’s active search period, this structure warrants attention because it indicates unified reporting obligations rather than fragmented ownership. However, because the actual Schedule 13D schedule pages containing share counts, cost basis, and declared objectives are absent from this excerpt, neither aggressive capital deployment toward a target nor passive treasury accumulation can be confirmed. Without those underlying figures, the filing does not shift investor calculations regarding trust distribution mechanics or business combination timelines.
What changed: A Schedule 13G beneficial ownership report and accompanying joint filing agreement executed pursuant to Rule 13d-1(k) under the Securities Exchange Act of 1934. The filing discloses that Trails Edge Capital Partners, LP; Trails Edge Biotechnology Master Fund, LP; and Ortav Yehudai jointly registered their beneficial ownership position in the Class A Ordinary Shares, $0.0001 par value per share, of Research Alliance Corporation IV. According to the exhibit text, no recent trading activity triggered this disclosure. It contains no amendments to the contractual liquidation window, no adjustments to the established trust per-share allocation, and zero reports on active acquisition negotiations, extension ballots, or sponsor personnel shifts. Why it matters: For shareholders tracking voting thresholds and redemption schedules, this joint filing concentrates the economic and voting rights of this specific block under Ortav Yehudai, who executes the agreement in his stated capacity as Chief Investment Officer for both investment vehicles. This coordination mechanism does not mechanically accelerate trust dissolution or force shareholder exits, but it clarifies which stakeholders hold aligned ballot authority ahead of any future business combination vote or extension meeting. The document provides no substantive commercial disclosures: there are no claims regarding target industry verticals, proprietary technology, customer backlogs, projected revenue streams, or strategic partnership frameworks. All ownership and signature assertions are attributed strictly to the three parties named in the attached joint filing agreement.
What changed: Form 8-K reporting the consummation of Research Alliance Corp IV’s Initial Public Offering (IPO) and concurrent private placement, accompanied by an audited balance sheet. On July 14, 2026, RACD officially closed its IPO of 7,500,000 Class A ordinary shares at $10.00 per share, generating $75,000,000 in gross proceeds. Simultaneously, the sponsor (Research Alliance Holdings IV LLC) purchased 275,000 private placement shares at $10.00 per share for $2,750,000. Of the proceeds, $75,000,000 was deposited into a U.S.-based trust account held by Continental Stock Transfer & Trust Company. Total IPO offering costs were $3,648,334, comprising $750,000 in upfront underwriting discounts and $2,250,000 in deferred underwriting commissions. The accompanying balance sheet reports $1,414,902 in available cash outside the trust, $9,780 in prepaid expenses, $130,068 in accrued expenses, and a shareholders' deficit of $955,386. Why it matters: This filing confirms the trust is fully seeded at $10.00 per public share, locking in the baseline redemption value for investors until the mandatory liquidation deadline of July 14, 2028. The $2,250,000 deferred underwriting fee creates a sunk-cost pressure on the sponsor and management to complete a deal, as the underwriter has agreed to waive the fee if the combination fails. Management notes there are currently zero operations, no revenue, and no substantive discussions with any business combination target. To finance future search and transaction costs, the sponsor or directors may issue unsecured working capital loans of up to $3,000,000, convertible into post-deal equity at $10.00 per share. Additionally, the sponsor has agreed to indemnify the trust account for third-party claims down to $10.00 per share, though the financial notes state the sponsor’s only assets are company securities, flagging potential indemnification capacity risks.
What changed: A Schedule 13G joint filing agreement (routine compliance exhibit) executing on July 20, 2026, under which Commodore Capital LP, Commodore Capital Master LP, Robert Egen Atkinson, and Michael Kramarz formally consolidate their beneficial ownership disclosures into a single filing vehicle. According to the agreement’s recitals and signature blocks, the instrument introduces no amendments to Research Alliance Corp IV’s redemption calendar, trust account mechanics, business combination deadline, or sponsor oversight framework. The document solely governs regulatory submission logistics, meaning shareholder redemption rights, trust valuation distributions, and extension voting timelines remain entirely unaffected. Why it matters: The exhibit contains no forward-looking projections, customer metrics, revenue figures, market size estimates, strategic roadmap declarations, technology assessments, partnership announcements, litigation defenses, or personnel appointments. Signatories Michael Kramarz and Robert Egen Atkinson respectively attest to managing partner and authorized signatory responsibilities for accurate reporting. Because the filing conveys no operational, financial, or governance developments, it does not materially alter investor calculus ahead of the July 13, 2028 deadline, though it clarifies the collaborative disclosure posture of the named institutional and individual holders.
What changed: A Schedule 13G Joint Filing Agreement executed on July 20, 2026, documenting collective beneficial ownership of Class A Ordinary Shares, par value $0.0001 per share, of Research Alliance Corporation IV. The filing reports no alterations to the July 13, 2028 termination deadline, the $10.00 trust value per share, or the company’s searching status. It establishes a joint disclosure arrangement under Rule 13d-1(k)(1) among BIOTECHNOLOGY VALUE FUND L P, BVF I GP LLC, BIOTECHNOLOGY VALUE FUND II LP, BVF II GP LLC, Biotechnology Value Trading Fund OS LP, BVF Partners OS Ltd., BVF GP HOLDINGS LLC, BVF PARTNERS L P/IL, BVF INC/IL, and LAMPERT MARK N. Mark N. Lampert signs as authorized representative for each listed holder. The attached exhibit contains only the signature page and legal agreement language; it does not disclose share quantities, dates of acquisition, percentage ownership, or investment objectives. Why it matters: As a routine compliance exhibit, the filing consolidates reporting obligations across multiple affiliated vehicles and the named individual rather than modifying transaction mechanics. Because the primary Schedule 13G data table is absent, investors cannot determine whether the affiliated group’s stake approaches regulatory thresholds that might affect board oversight, merger negotiation dynamics, or sponsor governance before the July 2028 search window closes. The redemption calendar, trust preservation mechanics, and extension provisions remain untouched pending release of the complete ownership schedule.
What changed: A Schedule 13G beneficial ownership report filed to disclose that Perceptive Advisors LLC, Joseph Edelman, and Perceptive Life Sciences Master Fund, Ltd. are the designated reporting entities under Section 13(d) of the Exchange Act. The document names three reporting parties but contains zero share counts, purchase prices, date-of-acquisition fields, or narrative sections. It does not update redemption eligibility windows, trust account balances, extension voting timelines, target identification status, or sponsor compensation/conduct disclosures. Why it matters: As initially drafted, this 13G functions as a regulatory threshold notification rather than an operational update. Without embedded position data or a statement of purpose referencing RACD’s target search or business combination pathway, the filing carries no immediate impact on the July 13, 2028 dissolution deadline, investor cash-redemption calculations, or trust yield accruals. Materiality would only shift if a subsequent Amendment A schedules 0001193125-26-308898 discloses aggregate shares exceeding the five-percent line, specifies joint purchasing agreements that could form a de facto control group ahead of a merger vote, or ties the reporting entity to RACD’s management team or underwriters. Until then, the filing remains a static compliance record.
What changed: SEC Form 4 insider ownership report. On 2026-07-14, Matthew Hammond (director, Chief Executive Officer, 10% owner) acquired 275,000 shares at $10 via grant/award, resulting in post-transaction holdings of 275,000 shares. The filing does not modify the 2028-07-13 target deadline, the $10 per share trust value, redemption rights, or the company’s SEARCHING status. Why it matters: As a routine compliance exhibit, this Form 4 discloses executive equity allocation without triggering changes to investor redemption mechanics, trust account protections, or extension clauses. No assertions regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel appear in the filing. The reported figures and status are sourced directly from the issuer’s and reporter’s regulatory submission. While the grant reflects internal capital deployment, it carries no binding impact on the redemption calendar or business combination timeline.
What changed: Form 4 — insider ownership report filed with the SEC for Research Alliance Corp IV. According to the Form 4 submission by Research Alliance Holdings IV LLC, the reporting person acquired 275,000 shares at $10 via grant/award on 2026-07-14, concluding with 275,000 shares owned. The filing does not alter the SPAC’s SEARCHING status, trust account valuation, redemption price parameters, or the recorded 2028-07-13 termination deadline. Why it matters: As reported by Research Alliance Holdings IV LLC, the entity holds director status and a 10% ownership stake. The disclosed accumulation of 275,000 shares at the documented $10 price represents a completed founder equity allocation as the company approaches its 2028 liquidation window. Because the Form 4 contains no statements regarding target pipelines, merger negotiations, sponsorship conduct beyond standard equity grants, or marketing materials, the primary significance lies in the confirmed retention of founding capital alongside public shareholders approaching the redemption horizon. Trust mechanics and extension voting provisions remain unaffected by this insider transaction.
What changed: Form 8-K filing covering the consummation of Research Alliance Corporation IV's (RACD) initial public offering (IPO), including the underwriting agreement, trust agreement, registration rights agreement, private placement, charter amendments, director appointments, and a press release. On July 14, 2026, the company completed its IPO of 7,500,000 Class A ordinary shares at $10.00 per share, for gross proceeds of $75,000,000. Simultaneously, the Sponsor purchased 275,000 Private Placement Shares for $2,750,000. Total proceeds of $75,000,000 were deposited into a trust account. The company also appointed Alan Musso and John Maslowski to its board of directors and adopted an amended and restated memorandum and articles of association. Why it matters: This 8-K establishes the fundamental trust mechanics for this new SPAC. Per the filing, the trust holds $75,000,000 (including a $2,250,000 deferred underwriting discount) as of July 14, 2026. The trust value per share is $10.00 ($75,000,000 / 7,500,000 shares). The deadline to complete a business combination is 24 months from the closing of the IPO, or July 14, 2028. The document also details the lock-up agreements: Founder Shares are locked up for one year post-business combination (or earlier if certain price targets are met), and Private Placement Shares are locked up for 30 days post-business combination. The company is led by CEO Matthew Hammond and sponsored by RA Capital Management, focusing on healthcare targets.
What changed: Form 424B4 prospectus for the initial public offering of Research Alliance Corporation IV, a newly organized Cayman Islands exempted blank check company incorporated April 1, 2026. This filing establishes the baseline mechanics rather than modifying existing terms. According to the prospectus, the company operates under a strict 24-month completion deadline from the anticipated July 14, 2026 closing, with no specific target selected and no substantive discussions initiated. Why it matters: The 24-month expiration and mandatory extension redemptions establish the absolute liquidity horizon and capital preservation schedule for public investors. The founder share anti-dilution provision, structured to maintain a 15% converted ownership percentage excluding private placements and seller securities, interacts with the disclosed immediate net tangible book value dilution matrix—listing a $2.36 spread from the $10.00 offering price at 25% redemption down to negative $(0.65 ) at maximum redemption—which fundamentally alters post-combination equity valuations.
What changed: A routine SEC Form 3 compliance exhibit documenting initial insider beneficial ownership. Per the Form 3 filing submitted by Director John Michael Maslowski, zero non-derivative transactions or shareholdings were reported for Research Alliance Corp IV. This absence of activity leaves redemption thresholds, trust valuation mechanics, extension vote calendars, business combination pacing, and sponsor conduct metrics unchanged. Why it matters: For investors tracking SEARCHING-phase SPAC lifecycles, an inactive Form 3 confirms the director preserved static equity alignment through the 2026-07-10 reporting period. While the submission introduces no operational developments regarding target sourcing, bridge credit facilities, or underwriter conversion elections, it maintains the transparency baseline required to detect sudden capital reallocations. The unreported position against accession 0001608774-26-000004 suggests no shift in leadership conviction ahead of the dissolution timeline, providing no immediate impetus to adjust redemption probability models or extend the search window.
What changed: SEC Form 3 — initial statement of beneficial ownership reporting insider equity positions for Research Alliance Corp IV. According to the filing text submitted on 2026-07-10, reporting person Stusnick Henry William (identified in the submission as COO and CBO) disclosed zero non-derivative transactions and reported no existing non-derivative holdings. The document contains no references to modified redemption deadlines, trust-per-share recalibrations, extension votes, target acquisition milestones, or alterations to sponsor or executive conduct. Why it matters: For investors tracking redemption calendars, trust value mechanics, extension schedules, deal progression, or sponsor behavior, this routine compliance exhibit confirms that named leadership has not adjusted any equity positions and introduces no contractual or operational developments that would impact deSPAC execution. The filing makes no substantive claims regarding customer concentration, revenue projections, market sizing, technology roadmaps, partnership arrangements, ongoing litigation, or personnel changes beyond the standard COO/CBO title attribution. Because the SEC submission explicitly states 'No non-derivative transactions or holdings reported,' it functions as a procedural checkpoint that leaves the SEARCHING status, capital deployment timeline, and shareholder exit parameters unchanged. Investors monitoring these mechanics should anticipate that future material movements will originate from merger agreements, 8-K disclosures, proxy statements, or extension amendments rather than insider trade filings.
What changed: A Form 8-A for registration of certain classes of securities under Section 12(b) of the Exchange Act, registering Class A ordinary shares for listing on The Nasdaq Stock Market LLC. The Registrant registered the identical Class A ordinary shares (par value $0.0001) referenced in the S-1 prospectus initially filed June 8, 2026. The filing contains no amendments to redemption mechanics, trust account provisions, business combination timelines, or sponsor conduct. Chief Executive Officer Matthew D. Why it matters: This 8-A completes the Section 12(b) registration necessary for the Class A ordinary shares to trade on Nasdaq following the initial public offering tied to Registration Statement file number 333-296609. Because the document incorporates the full security description by reference from the June 8, 2026 prospectus rather than restating it, all underlying terms governing shareholder redemptions, trust distributions, and extension votes remain controlled by the original registration statement and any subsequently filed amendments.
What changed: A routine compliance exhibit—a Form 3 insider ownership report filed for Research Alliance Corp IV, naming Francis Sherman as Chief Financial Officer. The filing explicitly states that no non-derivative transactions or holdings were reported for the named reporting person, confirming zero alteration to insider beneficial ownership, trust account movements, or extension voting participation. Why it matters: This disclosure leaves the redemption calendar, trust valuation framework, and acquisition search phase entirely unchanged. With the entity remaining in a pre-business combination stage, the absence of reported executive positions signals no immediate shift in sponsor conduct or capital deployment strategy. Investors monitoring financing milestones, redemption windows, or insider alignment receive no new directional signal from this administrative filing.
What changed: A Form 3 insider ownership report, which is a routine SEC compliance exhibit used to disclose initial or modified equity holdings by directors, officers, and principal stockholders. The filing explicitly states 'No non-derivative transactions or holdings reported' for Research Alliance Holdings IV LLC. The document describes this entity as a '10% owner', but records zero purchases, sales, or adjustments. This leaves the SPAC’s redemption deadline, trust-per-share status, extension eligibility, and target-acquisition timeline completely untouched. Why it matters: Because the form registers no movement, it provides no fresh signals regarding sponsor capital deployment, negotiation velocity, or alignment ahead of the search window. The document contains no claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel; its substance is limited to administrative identification and a null-activity declaration. For investors tracking redemption mechanics and trust preservation, the static filing confirms that neither accumulation nor reduction of the sponsor’s on-record position occurred during this period, preserving the current capital structure and timeline.
What changed: A Form 3 — insider ownership report filed pursuant to Section 16(a) of the Securities Exchange Act. The filing identifies Director Alan A. Musso as the reporting person and explicitly states 'No non-derivative transactions or holdings reported' with Research Alliance Corp IV. Consequently, there are no changes to insider share counts, warrant positions, or derivative contracts that could influence sponsor alignment, dilution exposure, or redemption competition. Public trust account mechanics and the scheduled liquidation timeline remain completely unaffected by this submission. Why it matters: For a blank-check company in 'SEARCHING' status, confirming zero director-held equity eliminates ambiguity around potential conflicts of interest or pre-combination trading activity that could indirectly pressure public shareholders ahead of a redemption vote or business combination announcement. Because the document contains no claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel, investors receive no new operational or strategic signals to model against. The routine compliance nature of the filing confirms that no extension proposals, governance amendments, or director compensation triggers tied to insider equity have been activated at this stage.
What changed: SEC Form 3 initial statement of beneficial ownership (insider ownership report). In its own terms, this is a routine Form 3 filing documenting beneficial ownership. The document reports zero non-derivative transactions and no holding adjustments for the named reporting person. Bearing on redemption deadlines, trust value, extensions, deal progress, and sponsor conduct: the filing contains no provisions, votes, amendments, or sponsor communications that would alter the existing search phase, preserve liquidity, trigger a continuation vote, advance a target integration, or reflect new executive compensation or governance shifts. Bearing on other substance: the text makes no assertions regarding customer concentration, revenue streams, addressable markets, proprietary technology, commercial partnerships, pending litigation, or management transitions. The only numeric figure present is the 10% ownership stake attributed directly by the issuer to Hammond Matthew in his capacity as director and Chief Executive Officer. Why it matters: For investors mapping the liquidation waterfall or tracking insider alignment, this submission establishes that no additional shares were acquired or surrendered by the CEO/director during the reporting window, leaving the existing capitalization table and shareholder base mechanically unchanged. Because the filing offers no data on trust balance evolution, extension ballot wording, or merger drafting milestones, it carries no immediate pricing or timing signal for redemptions or hold decisions.
What changed: Amendment No. 1 to Form S-1 Registration Statement, filed as a routine exhibits-only compliance update. The Registrant’s filing adds Exhibit 23.1, a consent from independent registered public accounting firm CBIZ CPAs P.C., dated July 8, 2026. The Explanatory Note states that the remainder of the Registration Statement is completely unchanged. Consequently, the filing makes zero alterations to redemption mechanics, trust account administration, extension provisions, target search parameters, or sponsor conduct and lockup terms. Why it matters: While procedurally minimal, this maintenance filing preserves the shelf registration’s readiness ahead of a potential offering effective date. Per the signatures, Chief Executive Officer Matthew D. Hammond and Chief Financial Officer Fran Adams maintain the corporate office at 600 Fifth Avenue, 23rd Floor, New York, NY 10020, and continue operating under the active registration program identified by File No. 333-296609. The filing contains no operational metrics, customer disclosures, revenue projections, partnership announcements, or litigation updates. Because trust share valuation and redemption pricing are omitted, shareholders cannot derive updated cash-per-share or offer-price calculations from this document alone; those parameters remain tied to the originally filed prospectus until a substantive amendment or definitive agreement enters the record.
What changed: Registration Statement on Form S-1 for Research Alliance Corporation IV's initial public offering of 7,500,000 Class A ordinary shares at $10.00 per share. This is the initial filing. Key terms include: (1) IPO of 7.5M shares at $10.00 with total proceeds of $75M, plus a concurrent private placement of 275K shares to the sponsor at $10.00/share for $2.75M; (2) trust will initially hold $75M ($10.00 per share), including $2.25M of deferred underwriting commissions; (3) 24-month deadline from closing to complete a business combination; (4) redemption rights for public shareholders upon completion of a business combination or amendment; (5) founder shares (1,263,529 Class B) held by sponsor and two director nominees, convertible to Class A at 1:1 with anti-dilution adjustment to maintain 15% ownership of total ordinary shares (excluding private placement shares); (6) a 15% cap on any single shareholder's redemption rights without the company's consent; and (7) sponsor has indicated an interest to purchase up to $100M of ordinary shares in a private placement concurrent with the initial business combination. Why it matters: This document establishes the initial structure and terms of the SPAC, including trust value, redemption mechanics, deadline of July 2028, and sponsor economics.
In plain English
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.
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.
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.