Research Alliance Corporation IV, a special purpose acquisition company sponsored by an affiliate of RA Capital Management, L.P., moved forward with its public listing by pricing an initial public offering on July 13, 2026. The company sold 7,500,000 Class A ordinary shares at $10.00 per share, a structure that equates to gross proceeds of $75 million based on the stated shares and price.
The newly issued shares are quoted on the Nasdaq Capital Market under the symbol RACD. The company indicated the offering is expected to close on July 14, 2026, subject to customary closing conditions that typically accompany transactions of this type.
Business purpose and leadership
Incorporated as a blank check company, Research Alliance Corporation IV exists to pursue a business combination - including, but not limited to, a merger, share exchange, asset acquisition, share purchase, or reorganization. The company has stated its intended search will be focused on targets operating in the healthcare or healthcare-related industries.
Operational leadership for the SPAC is provided by Matthew Hammond, PhD, MBA, who serves as chief executive officer, and Henry Stusnick, who holds the combined roles of chief business officer and chief operating officer. The public filing and accompanying materials identify these executives as leading the company’s search and transaction efforts.
Underwriting and investor participation
Leerink Partners served as the sole bookrunning manager for the offering. Institutional participants named in the offering materials include Adage Capital Partners LP, ADAR1 Capital, Affinity Asset Advisors, Braidwell LP, BVF Partners, Deep Track Capital, Eventide Asset Management, Great Point Partners, Janus Henderson Investors, Perceptive Advisors, SilverArc Capital, Sirenia Capital Management LP, Spruce Street Capital, TCGX, Trails Edge Capital Partners, Venrock Healthcare Capital Partners, and other institutional investors. The list reflects the syndicate of investors that took part in the offering alongside the bookrunner.
Regulatory step and next actions
The U.S. Securities and Exchange Commission declared the SPAC’s registration statement effective on July 10, 2026. With the registration effective and the pricing completed on July 13, the company expects to satisfy customary closing conditions and finalize the offering on July 14, 2026.
As a blank check company with a stated focus on healthcare and healthcare-related targets, Research Alliance Corporation IV will now commence its search for a suitable business combination under the guidance of its named executives and the backing of the listed institutional participants.