Item 8.01. Other Events.
On July 30, 2021, DA32 Life Science Tech Acquisition Corp. (the "Company")
consummated its initial public offering ("IPO") of 20,000,000 shares of Class A
common stock of the Company, par value $0.0001 per share (the "Class A Common
Stock"). The Class A Common Stock were sold at a price of $10.00 per Class A
Common Stock, generating gross proceeds to the Company of $200,000,000. The
Company has granted J.P. Morgan Securities LLC and Cowen and Company, LLC a
45-day option from the date of the final prospectus to purchase up to an
additional 3,000,000 units at the initial public offering price to cover
over-allotments, if any.
On July 30, 2021, simultaneously with the consummation of the IPO, the Company
completed the private sale (the "Private Placement") of an aggregate of 650,000
(the "Private Placement Shares") to DA32 Sponsor LLC at a purchase price of
$10.00 per Private Placement Share, generating gross proceeds to the Company of
$6,500,000.
A total of $200,000,000, comprised of $196,800,000 of the proceeds from the IPO
(which amount includes $5,600,000 of the underwriters' deferred discount) and
$3,200,000 of the proceeds of the sale of the Private Placement Shares, was
placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A. maintained
by Continental Stock Transfer & Trust Company, acting as trustee.
An audited balance sheet as of July 30, 2021 reflecting receipt of the proceeds
upon consummation of the IPO and the Private Placement has been issued by the
Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.
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DA32 LIFE SCIENCE TECH ACQUISITION CORP. 
