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Rising Dragon Acquisition Corp (NASDAQ: RDAC) announced that starting December 2, 2024, holders of units from their October 15, 2024 IPO can separately trade ordinary shares and rights on the Nasdaq Capital Market. The separated components will trade under symbols 'RDAC' (ordinary shares) and 'RDACR' (rights), while unseparated units continue trading as 'RDACU'. Unit holders must contact Continental Stock Transfer & Trust Company through their brokers to separate units.
The initial offering was underwritten with Lucid Capital Markets, as sole book-running manager. A registration statement (File No. 333-280026) became effective on October 10, 2024, with the final prospectus available on the SEC website.
Rising Dragon Acquisition Corp. (NASDAQ: RDAC) has successfully closed its initial public offering (IPO) of 5,750,000 units at $10.00 per unit, raising a total of $57.5 million. The offering included the full exercise of the underwriters' over-allotment option for an additional 750,000 units. Each unit comprises one ordinary share and one right, with the right entitling the holder to receive one-tenth of an ordinary share upon the consummation of an initial business combination.
The units began trading on the NASDAQ Capital Market under the ticker symbol RDACU on October 11, 2024. Once the securities start separate trading, the ordinary shares and rights are expected to be listed under the symbols RDAC and RDACR, respectively. Lucid Capital Markets acted as the sole book-running manager for the offering.
The company's registration statement became effective on October 10, 2024, and a final prospectus has been filed with the SEC. The offering was made only through a prospectus forming part of the effective registration statement.
Rising Dragon Acquisition Corp. (NASDAQ: RDAC) has priced its initial public offering (IPO) at $50 million. The offering includes 5,000,000 units priced at $10.00 per unit. Each unit consists of one ordinary share and one right, with each right entitling the holder to receive one-tenth of one ordinary share upon the consummation of an initial business combination. The units will be listed on the NASDAQ Capital Market under the ticker symbol RDACU starting October 11, 2024. Once separate trading begins, the ordinary shares and rights will trade under the symbols RDAC and RDACR respectively. The offering is expected to close on October 15, 2024, subject to customary closing conditions. Lucid Capital Markets is managing the offering, with Loeb & Loeb LLP and Blank Rome LLP serving as legal counsel.
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