Monitor for any business combination announcements or target identification. The 24-month deadline runs from July 2026. The sponsor's nominal cost creates incentive to complete a deal, but no target discussions have occurred. Watch for any 8-K filings regarding potential targets or extensions.
Price Chart
Executive Summary
Research Alliance Corp IV (RACD) completed its $75 million SPAC IPO, pricing 7.5 million Class A ordinary shares at $10.00 per share. The proceeds are deposited into a trust account to fund a future business combination within 24 months. The sponsor holds 1.26 million founder shares at $0.02/share and purchased 275,000 private placement shares at $10.00/share. No target has been identified.
Key Financial Metrics
Key Facts
- 7,500,000 Class A ordinary shares priced at $10.00 per share, raising $75,000,000 in gross proceeds
- $75,000,000 deposited into trust account, representing $10.00 per public share
- Sponsor Research Alliance Holdings IV LLC holds 1,263,529 founder shares (Class B) purchased for $25,000 total (~$0.02/share)
- Sponsor purchased 275,000 private placement shares at $10.00/share ($2,750,000 total) concurrent with IPO closing
- Underwriter Leerink Partners receives $0.40/share total underwriting compensation ($0.10 upfront + $0.30 deferred)
- Company has 24 months from closing to complete an initial business combination or will liquidate and return trust proceeds to public shareholders
- Unlike many SPAC IPOs, no warrants are included in this offering
- Immediate dilution of 18.7% ($1.87 per share) for public shareholders due to sponsor's nominal founder share price
Financial Impact
$75,000,000 raised in IPO trust account; $2,750,000 from private placement; $1,200,000 available for working capital outside trust
Risk Factors
- No operating history or revenues; entirely dependent on finding and completing a business combination within 24 months
- Sponsor paid $0.02/share for founder shares vs. $10.00 for public shares, creating misaligned incentives and significant dilution for public holders
- Competition from other SPACs for attractive healthcare targets may limit deal quality
- Potential conflicts of interest with affiliated SPAC Research Alliance Corp III, which has similar acquisition objectives
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B4 Filing (RACD) — Batch item 1 | 0001193125-26-301373 |
| Document: 0001193125-26-301373-index-headers.html | 9999999995-26-002250 |
| Document: 0001193125-26-301373.txt | 0001193125-26-301373 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 20, 2026 13w ago | 8-K | $10.44 $11.90 | ▲ +13.98% | ▲ +11.42% | $10.41 (−0.29%) |
Jul 14, 2026 14w ago | 8-K | $10.64 $11.42 | ▲ +7.33% | ▲ +4.99% | $10.41 (−2.16%) |
Jul 13, 2026 15w ago | 424B4 / EFFECT | $10.34 $11.51 | ▲ +11.32% | ▲ +8.13% | $10.41 (+0.68%) |
Jul 10, 2026 15w ago | 3 | — | awaiting T+20 | — | — |
Jul 10, 2026 15w ago | 3 | — | awaiting T+20 | — | — |
Jul 10, 2026 15w ago | 3 | — | awaiting T+20 | — | — |
Jul 10, 2026 15w ago | 3 | — | awaiting T+20 | — | — |
Jul 10, 2026 15w ago | 3 | — | awaiting T+20 | — | — |
Jul 8, 2026 15w ago | S-1/A | — | awaiting T+20 | — | — |
US Market Status
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