---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-22-024892"
form_type: "8-K"
ticker: "OBIO"
cik: "0001814114"
company_name: "Orchestra BioMed Holdings, Inc."
filed_at: "2022-07-05T23:59:59+00:00"
generated_at: "2026-06-24T21:25:17.274548+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# HSAC2 (HSAQ) enters SPAC merger with Orchestra BioMed; $20M forward purchase agreements, $60M cash condition

## Summary
- Orchestra stockholders receive 0.465 HSAC2 shares per share; earnout up to 8M additional shares at $15/$20 VWAP milestones.
- RTW Funds and Medtronic affiliate each commit $10M in forward purchases; RTW also backstops to meet $60M minimum cash condition.
- Minimum $60M cash at closing required; sponsor forfeits 1M shares and 750K warrants subject to earnout and lock-up conditions.
- Post-closing company renamed Orchestra BioMed Holdings; board will consist of existing Orchestra directors.
- Outside closing date February 6, 2023; deal requires shareholder and regulatory approvals.

## SEC filing metadata
- accession: 0001140361-22-024892
- form_type: 8-K
- ticker: OBIO
- cik: 0001814114
- company_name: Orchestra BioMed Holdings, Inc.
- filed_at: 2022-07-05T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1814114/000114036122024892/0001140361-22-024892-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1814114/000114036122024892/ny20004465x4_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-22-024892
- JSON: https://secwatch.observer/filing/0001140361-22-024892.json
- Plain text: https://secwatch.observer/filing/0001140361-22-024892.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.