Healthcare Capital Corp. (HCCC), a Special Purpose Acquisition Company, has surged 17.06% in aftermarket trading session. As a result, the stock is trading at $11.80 at the time of the writing. During Monday’s regular trading session, the stock gained an increase of 0.30% and closed the day at $10.08. The rise in stock came after the company filed a report with SEC
HCCC Adjourned Special Meeting
On Friday, HCCC filed a report with SEC regarding the adjournment of the special meeting of its shareholders. The company said that it convened and then adjourned the meeting without conducting any business. The meeting was relevant to the previously announced proposed business combination of Healthcare Capital with Alpha Tau Medical Ltd. At the meeting, there were present holders of 17,002,854 shares of HCCC Class A common stock as well as 6,875,000 shares of HCCC Class B common stock.
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Q3 2021 Results
In mid-November, HCCC announced the results for the third quarter of the fiscal year 2021, which ended 30th September 2021. The company suffered a loss of $0.5 million from the operations during the three-month period. The net income for the three-month period ended 30th September 2021 was $0.24 million. The basic and diluted net income per share for the class A common stock was $0.01, while it was the same for class B common stock as well.
Financial Metrics
HCCC also released the financial results for the period ended on 30th September 2021. The company had total current assets of $0.82 million on the said date. The total assets were estimated to be $275.8 million, while the total liabilities were calculated to be $25 million on 30th September 2021.
Future Outlook for HCCC
Looking ahead, analysts believe that numerous positive signals are associated with HCCC stock at this point in time, hence, it is expected to perform exceptionally well in the next couple of weeks. So, they have placed a buy rating for the stock.
