Research Alliance IV is a special purpose acquisition company (SPAC) formed to acquire or merge with one or more private businesses in the healthcare sector. The company specifically targets pre-commercial biotechnology, drug development, diagnostics, and healthcare technology firms. As a blank check company, Research Alliance IV currently has no operations or identified acquisition targets. The company is sponsored by an affiliate of RA Capital Management, a life sciences investment firm. Management utilizes RA Capital’s TechAtlas research platform, which employs scientists to map disease areas and evaluate competitive landscapes, to source and vet potential targets. Research Alliance IV focuses on drug candidates with clinical or preclinical data and businesses that can reach value inflection points using the SPAC’s capital. Unlike most SPACs, Research Alliance IV does not issue warrants to public investors, a structure intended to reduce shareholder dilution. The sponsor holds a 15% stake in the post-merger entity and has expressed interest in providing up to $100M in additional capital through a PIPE at the time of a transaction. Research Alliance IV has 24 months to complete a business combination. If no deal occurs within this window, the company will liquidate and return the $75M held in its trust account to public shareholders. The management team also leads a simultaneously active sister SPAC.