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SPAC · Deal announced

Healthcare AI Acquisition Corp.

Business combination with Leading Group Limited

Healthcare AI Acquisition Corp. is a blank-check company (SPAC) that raised $200M in its initial public offering on Dec 13, 2021, listing on Nasdaq. It agreed to combine with Leading Group Limited, announced on Aug 16, 2024, at a stated value of $430M. The deal has not closed yet. Citigroup led the IPO, with Jefferies. Kirkland & Ellis advised the SPAC and Ropes & Gray advised the underwriters on the IPO.

Leading Group Limited is an insurance channel specialist in China's insurance services segment. It offers an online insurance brokerage service with integrated marketing that helps insurance carriers acquire customers, and supports channel partners with risk management for individual and corporate policyholders.

Status
Deal announced
IPO date
Dec 13, 2021
IPO size
$200M
IPO exchange
Nasdaq
Target
Leading Group Limited
Target sector
Other
Announced
Aug 16, 2024
Stated deal value
$430M
Combined company
Leading Partners Limited (Holdco)
IPO underwriters
Citigroup and Jefferies
SPAC counsel (IPO)
Kirkland & Ellis and Walkers
Underwriters' counsel (IPO)
Ropes & Gray

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