Healthcare Capital Corp. (NASDAQ:HCCC) announced this morning that its shareholders have voted to approve its combination with Alpha Tau Medical, but has not given any hints as to its redemption figures.

The SPAC adjourned its special meeting to complete the deal twice last week, noting that not all closing conditions were satisfied.  Healthcare Capital announced significant concessions to its sponsor economics on the eve of the final vote including a forfeiture of 4,709,375 promote shares and 4,658,000 private placement shares.

Alpha Tau’s shares and warrants are expected to begin trading on the Nasdaq under the symbols “DRTS” and “DRTSW”, respectively, once the transaction is closed. It is up in premarket trading with a bid/ask around $10.60/$11.09 up from the SPAC’s last close at $10.08, which could indicate some traders feeling out a “low float” situation. But, even if it would meet such criteria, Nasdaq has recently shown its readiness to intervene in such scenarios, as it did in suspending Inspirato (NASDAQ:ISPO) following its high-redemption de-SPAC.

Healthcare Capital originally announced its $650 million deal with Alpha Tau last summer on July 8. Jerusalem-based Alpha Tau is developing unique cancer treatments that utilize alpha radiation to attack tumors with reduced damage to surrounding tissues and cells.

ADVISORS

• Citigroup is acting as financial advisor to Alpha Tau.
• Citigroup, Piper Sandler, and Cantor Fitzgerald are acting as joint placement agents on the PIPE.
• Cantor Fitzgerald is acting as a capital markets advisor to HCC.
• Value Base M&A Ltd. is also acting as financial advisor on the transaction.
• Latham & Watkins LLP and Meitar | Law Offices are acting as legal advisors to Alpha Tau.
• Ellenoff Grossman & Schole LLP and FBC & Co. are acting as legal advisors to HCC.
• Winston & Strawn LLP is acting as legal advisor to the placement agents.