Item 8.01. Other Items.

On May 1, 2023, Sandstone Asset Management notified Alpha Healthcare Acquisition Corp. III (the "Company") that it intends to stay invested in its anchor investor position in 1,020,520 shares of ALPA common stock and 285,875 warrants through the closing of the planned merger of Candy Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the Company ("Merger Sub"), with and into Carmell Therapeutics Corporation, a Delaware corporation ("Carmell"), pursuant to the Business Combination Agreement, dated as of January 4, 2023, by and among the Company, Merger Sub and Carmell.

Sandstone did not enter into any other new agreements relating to ALPA or Carmell securities.

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