Healthcare AI Acquisition Corp. appointed new CEO

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers, Compensatory Arrangements of Certain Officers.


On December 18, 2023, the Company filed with the Securities and Exchange Commission and mailed to its shareholders the Company's information statement on Schedule 14f-1 in connection with a change in majority control of the Company's board of directors other than by a meeting of shareholders (the "14F"). The Company designated each of Jiande Chen, Nat Y Chan, Stefan Dodov and Manuel C. Menendez III (the "New Directors") to fill the vacancies to be left by departing directors Zikang Wu, Hao Tian, Yuerong Tan and Zixun Jin (the "Outgoing Directors"), and Zikang Wu shall resign as chief executive officer, to be effective upon the expiration of all applicable waiting periods under Section 14(f) of the Exchange Act and Rule 14f-1 thereunder. In addition, Xiaocheng Peng, will become the permanent chief financial officer of the Company and non-independent director, and Jiande Chen will replace Zikang Wu as Chief Executive Officer of the Company and chairman of the Board. Jiande Chen and Ziaocheng Peng are referred to as the "New Officers."


On December 28, 2023, the resignation of the Outgoing Directors and chief executive officer and appointment of the New Directors and New Officers became effective. The biographical information for each of the New Directors and New Officers disclosed in the 14F is incorporated herein by reference. No family relationships exist between any of the New Directors and New Officers, and any other directors or executive officers of the Company. There are no transactions to which the Company is or was a participant and in which any New Director or New Officer has a material interest subject to disclosure under Item 404(a) of Regulation S-K.


Each of the New Directors and New Officers will enter into a joinder (the "Joinder Agreement") to that certain letter agreement, as amended, and that certain registration rights agreement, both dated October 13, 2021, by and among the Company, the Company's initial shareholders, the Sponsor, and certain officers and directors. In addition, each of the New Directors and New Officers will enter into indemnification agreements ("Indemnification Agreements") with the Company, each of which will be substantially similar to the indemnification agreements entered into by the other officers and directors in connection with the Company's initial public offering.


The foregoing descriptions are qualified in its entirety by reference to the Joinder Agreement, a form of which is attached as Exhibit 10.3 to the Current Report on Form 8-K filed with the Securities and Exchange Commission on June 14, 2023, and the Indemnification Agreements, a form of which is attached as Exhibit 10.4 to the Company's Registration Statement on Form S-1, as filed with the Securities and Exchange Commission on November 19, 2021, each of which is incorporated herein by reference.