Item 8.01 Other Events.
Closings of IPO and Private Placement and Audited Balance Sheet
On December 28, 2020, Healthcare Services Acquisition Corporation (the
"Company") completed (i) its initial public offering (the "IPO") of 33,120,000
units (the "Units"), including 4,320,000 Units sold pursuant to the full
exercise of the underwriter's option to purchase additional Units to cover
overallotments, at an offering price of $10.00 per Unit and (ii) a private
placement of 8,624,000 warrants with Healthcare Services Acquisition Holdings,
LLC and certain funds and accounts managed by BlackRock, Inc. at a price of
$1.00 per warrant (the "Private Placement"). The net proceeds from the IPO,
together with certain of the proceeds from the Private Placement, totaling
$331,200,000 in the aggregate (the "Trust Account Proceeds"), were placed in a
trust account with Continental Stock Transfer & Trust Company established for
the benefit of the Company's public stockholders and the underwriter of the IPO.
Except for the withdrawal of interest earned on the Trust Account Proceeds in
the trust account to fund the Company's franchise and income taxes, or upon the
redemption by public stockholders of Class A common stock in connection with
certain amendments to the Company's amended and restated certificate of
incorporation, none of the funds held in the trust account will be released
until the completion of the Company's initial business combination or the
redemption by the Company of 100% of the outstanding shares of Class A common
stock issued by the Company in the IPO if the Company does not consummate an
initial business combination within 24 months after the closing of the IPO.
An audited balance sheet as of December 28, 2020, reflecting receipt of the
Trust Account Proceeds has been issued by the Company and is included as Exhibit
99.1 to this Current Report on Form 8-K.
Separate Trading of Units, Class A Common Stock and Warrants
On January 4, 2021, the Company announced that the holders of Units may elect to
separately trade the shares of Class A common stock, par value $0.0001 per share
(the "Class A common stock"), and redeemable warrants included in the Units
commencing on January 5, 2021. Each Unit consists of one share of Class A common
stock and one-half of one redeemable warrant to purchase one share of Class A
common stock. Any Units not separated will continue to trade on The Nasdaq
Capital Market ("Nasdaq") under the symbol "HCARU." Any underlying shares of
Class A common stock and redeemable warrants that are separated will trade on
Nasdaq under the symbols "HCAR" and "HCARW," respectively. No fractional
warrants will be issued upon separation of the Units and only whole warrants
will trade. Holders of Units will need to have their brokers contact Continental
Stock Transfer & Trust Company, the Company's transfer agent, in order to
separate the holder's Units into shares of Class A common stock and redeemable
warrants.
A copy of the press release issued by the Company announcing the separate
trading of the securities underlying the Units is attached hereto as Exhibit
99.2.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 Audited Balance Sheet
99.2 Press Release, dated January 4, 2021
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