Healthcare AI Acquisition Corp. Files Form 8-K Detailing Recent Developments in Business Combination

Healthcare AI Acquisition Corp. recently submitted a Form 8-K filing to the U.S. Securities and Exchange Commission, disclosing significant updates related to a proposed business combination. Dated December 20, 2024, the filing sheds light on the company’s actions leading up to the specified date.

The Cayman Islands-based company, defined in the filing as “HAIA,” in conjunction with Leading Partners Limited and Leading Group Limited, jointly announced a proposed business combination through a Business Combination Agreement. This agreement involves the formation of various entities, including Leadingway Ltd. and HAIAway Ltd., as wholly-owned subsidiaries of PubCo, a Cayman Islands exempted company.

As part of the merger processes outlined in the Business Combination Agreement, significant financial movements have been recorded. Previously, HAIA issued unsecured promissory notes to Leading Group amounting to $350,000 and $100,000 for working capital purposes. These Leading Notes, including an Amended & Restated Leading Note inked on December 18, 2024, detail repayment terms and conversion options involving the issuance of PubCo Class A Ordinary Shares.

The recent Amended & Restated Promissory Note (the “A&R Leading Note”) consolidated the existing Leading Notes into a single note. Notably, adjustments were made to repayment conditions, eliminating the conversion rights of the Leading Notes into PubCo Class A Ordinary Shares. The A&R Leading Note mandates cash repayment, culminating at the Business Combination’s closing.

Included in the Form 8-K filing are the full details of the A&R Leading Note, attached as Exhibit 10.1. Furthermore, an Interactive Data File covering XBRL tags is enclosed as Exhibit 104. The filing also highlights compliance with the requirements of the Securities Exchange Act of 1934, signifying complete and authorized submission by the registrant.

Overall, the Form 8-K filing by Healthcare AI Acquisition Corp. provides transparency and clarity regarding recent financial obligations and alterations in the context of the anticipated business combination with Leading Group and Leading Partners Limited.

Please note that this article is a factual representation solely based on the content of the Form 8-K submitted by Healthcare AI Acquisition Corp. to the U.S. Securities and Exchange Commission.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Healthcare AI Acquisition’s 8K filing here.

Healthcare AI Acquisition Company Profile

Healthcare AI Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in Dover, Delaware.