- Business
- Health Assurance Acquisition Corp. (HAACU) operates as a blank check company, or special purpose acquisition company, focused on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the technology-enabled healthcare sector, including consumer-focused, data-driven, cloud-based platforms targeting health assurance opportunities. The company offers no current operational products or services beyond its core SPAC structure, which includes units comprising one Class A ordinary share and one-fourth of one redeemable warrant, with warrants exercisable at $11.50 per whole share; it previously traded on Nasdaq under HAAC, HAACU, and HAACW symbols prior to delisting. Founded in 2020 and headquartered in Cambridge, Massachusetts, HAAC targets global opportunities with a health assurance mindset emphasizing aligned stakeholder incentives and long-term performance through its proprietary Stakeholder Aligned Initial Listing (SAIL) structure. In a major development, the company completed a $525 million initial public offering in November 2020 underwritten by Morgan Stanley and AmeriVet Securities but liquidated its trust in November 2022 after failing to identify or complete a business combination by its 24-month deadline, redeeming shares at $10.05 apiece from its $527.9 million trust balance as of September 2022; shares ceased trading on Nasdaq on November 3, 2022, marking it as the 44th SPAC liquidation that year, with retained interest funding dissolution costs.