Rising Dragon Acquisition Corp. Announces Closing of $57.5 Million Initial Public Offering
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) ha chiuso con successo la sua offerta pubblica iniziale (IPO) di 5.750.000 unità a $10,00 per unità, raccogliendo un totale di $57,5 milioni. L'offerta ha incluso l'esercizio completo dell'opzione di over-allotment degli underwriters per ulteriori 750.000 unità. Ogni unità comprende un'azione ordinaria e un diritto, con il diritto che consente al titolare di ricevere un decimo di un'azione ordinaria al termine di una prima combinazione aziendale.
Le unità hanno iniziato a essere scambiate sul NASDAQ Capital Market sotto il simbolo RDACU l'11 ottobre 2024. Una volta che i titoli iniziano a essere scambiati separatamente, le azioni ordinarie e i diritti si prevede siano quotati sotto i simboli RDAC e RDACR, rispettivamente. Lucid Capital Markets ha agito come unico manager di book-running per l'offerta.
La dichiarazione di registrazione dell'azienda è diventata efficace il 10 ottobre 2024, e un prospetto finale è stato depositato presso la SEC. L'offerta è stata effettuata solo tramite un prospetto che fa parte della dichiarazione di registrazione efficace.
Rising Dragon Acquisition Corp. (NASDAQ: RDAC) ha cerrado con éxito su oferta pública inicial (IPO) de 5.750.000 unidades a $10.00 por unidad, recaudando un total de $57.5 millones. La oferta incluyó el ejercicio completo de la opción de sobreasignación de los suscriptores por 750.000 unidades adicionales. Cada unidad consta de una acción ordinaria y un derecho que permite al titular recibir una décima parte de una acción ordinaria al consumarse una combinación empresarial inicial.
Las unidades comenzaron a cotizar en el NASDAQ Capital Market bajo el símbolo RDACU el 11 de octubre de 2024. Una vez que los valores comiencen a negociarse por separado, se espera que las acciones ordinarias y los derechos se coticen bajo los símbolos RDAC y RDACR, respectivamente. Lucid Capital Markets actuó como el único administrador de book-running para la oferta.
La declaración de registro de la empresa se volvió efectiva el 10 de octubre de 2024, y se ha presentado un prospecto final ante la SEC. La oferta se realizó únicamente a través de un prospecto que forma parte de la declaración de registro efectiva.
Rising Dragon Acquisition Corp. (NASDAQ: RDAC)는 5,750,000개의 유닛을 개당 $10.00에 판매하는 최초의 공모(IPO)를 성공적으로 마감하여 총 $57.5백만을 모금했습니다. 이 공모는 인수자의 초과 배정 옵션을 완전히 행사하여 추가로 750,000개의 유닛을 포함했습니다. 각 유닛은 1주식과 1개의 권리로 구성되며, 이 권리는 최초 사업 결합이 이루어질 경우 보유자가 1/10의 주식을 받을 수 있는 권리를 부여합니다.
유닛은 2024년 10월 11일 NASDAQ 자본 시장에서 RDACU라는 티커 기호로 거래를 시작했습니다. 유가증권의 개별 거래가 시작되면 보통주와 권리는 각각 RDAC와 RDACR라는 기호 아래 상장될 것으로 예상됩니다. Lucid Capital Markets는 이번 공모의 단독 북 관리자로 활동했습니다.
회사의 등록 성명서는 2024년 10월 10일에 발효되었으며, 최종 투자설명서가 SEC에 제출되었습니다. 이번 공모는 효력 있는 등록 성명의 일부분인 투자설명서를 통해서만 이루어졌습니다.
Rising Dragon Acquisition Corp. (NASDAQ: RDAC) a clôturé avec succès son introduction en bourse (IPO) de 5 750 000 unités au prix de 10,00 $ par unité, levant ainsi un total de 57,5 millions de $. L'offre a inclus l'exercice complet de l'option de surallocation des souscripteurs pour 750 000 unités supplémentaires. Chaque unité se compose d'une action ordinaire et d'un droit, le droit permettant à son titulaire de recevoir un dixième d'action ordinaire lors de la conclusion d'une première combinaison d'affaires.
Les unités ont commencé à être négociées sur le NASDAQ Capital Market sous le symbole RDACU le 11 octobre 2024. Une fois que les titres commencent à être échangés séparément, les actions ordinaires et les droits devraient être cotés sous les symboles RDAC et RDACR, respectivement. Lucid Capital Markets a agi en tant que seul gestionnaire de book-running pour l'offre.
La déclaration d'enregistrement de la société est entrée en vigueur le 10 octobre 2024, et un prospectus final a été déposé auprès de la SEC. L'offre n'a été faite que par l'intermédiaire d'un prospectus faisant partie de la déclaration d'enregistrement effective.
Rising Dragon Acquisition Corp. (NASDAQ: RDAC) hat erfolgreich ihr erstes öffentliches Angebot (IPO) von 5.750.000 Einheiten zu je 10,00 USD abgeschlossen und dabei insgesamt 57,5 Millionen USD gesammelt. Das Angebot umfasste die vollständige Ausübung der Überplatzierungsoption der Underwriter für zusätzliche 750.000 Einheiten. Jede Einheit besteht aus einer Stammaktie und einem Recht, wobei das Recht dem Inhaber das Anrecht auf einen Zehntel einer Stammaktie beim Abschluss einer ersten Unternehmenszusammenführung gewährt.
Die Einheiten begannen am 11. Oktober 2024 mit dem Handel am NASDAQ Capital Market unter dem Tickersymbol RDACU. Sobald die Wertpapiere separat gehandelt werden, werden die Stammaktien und Rechte voraussichtlich unter den Symbolen RDAC und RDACR gelistet. Lucid Capital Markets fungierte als alleiniger Buchführer für das Angebot.
Die Registrierungserklärung des Unternehmens trat am 10. Oktober 2024 in Kraft, und ein endgültiger Prospekt wurde bei der SEC eingereicht. Das Angebot wurde nur über einen Prospekt durchgeführt, der Teil der wirksamen Registrierungserklärung ist.
- Successfully raised $57.5 million through IPO
- Full exercise of underwriters' over-allotment option
- Units listed on NASDAQ Capital Market
- Potential for additional capital through rights offering
- None.
Insights
The successful IPO of Rising Dragon Acquisition Corp. (RDAC) is a significant event in the SPAC market. The company raised
The unit structure, consisting of one ordinary share and one right (convertible to 1/10 of a share upon business combination), is typical for SPACs. It provides an additional incentive for investors to hold through the acquisition phase. The listing on NASDAQ under "RDACU" gives the SPAC visibility and liquidity, which are important for attracting potential merger targets.
For investors, this IPO presents an opportunity to participate in a potential high-growth acquisition, particularly in the Chinese market. However, it's important to note that SPACs carry inherent risks, including the uncertainty of finding a suitable target within the typical 18-24 month timeframe. The involvement of reputable firms like Lucid Capital Markets and Loeb & Loeb LLP adds credibility to the offering, but investors should still approach with caution and conduct thorough due diligence.
The successful registration and IPO of Rising Dragon Acquisition Corp. highlight several key legal aspects. The SEC's approval of the S-1 registration statement (File No. 333-280026) on October 10, 2024, indicates compliance with federal securities regulations. This is important for investor protection and market integrity.
The involvement of multiple law firms - Loeb & Loeb LLP for the company, Blank Rome LLP for the underwriter and Maples & Calder for Cayman Islands legal matters - suggests a comprehensive approach to legal compliance across different jurisdictions. This is particularly important given the company's Chinese connection and Cayman Islands incorporation.
The press release's disclaimer about not constituting an offer to sell or solicitation to buy is a standard legal protection. It emphasizes that the offering is made solely through the prospectus, reducing potential liability. Investors should note that while these legal structures provide some safeguards, they do not guarantee the SPAC's success or protect against all investment risks.
SHANXI, CHINA, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Rising Dragon Acquisition Corp. (NASDAQ: RDAC) (the “Company”) announced today that it closed its initial public offering of 5,750,000 units at
The units are listed on the NASDAQ Capital Market (“NASDAQ”) and began trading under the ticker symbol “RDACU” on October 11, 2024. Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on NASDAQ under the symbols “RDAC” and “RDACR,” respectively.
Lucid Capital Markets acted as sole book running manager in the offering. Loeb & Loeb LLP is serving as legal counsel to the Company. Blank Rome LLP is serving as legal counsel to Lucid Capital Markets. Maples & Calder (Hong Kong) LLP is serving as Cayman Islands legal counsel to the Company.
A registration statement on Form S-1, as amended (File No. 333-280026), relating to these securities was filed with the Securities and Exchange Commission (“SEC”) and became effective on October 10, 2024. A final prospectus relating to the offering was filed with the SEC and is available on the SEC's website at http://www.sec.gov. The offering was made only by means of a prospectus forming part of the effective registration statement. Electronic copies of the prospectus relating to this offering may be obtained from Lucid Capital Markets, 570 Lexington Avenue, 40th Floor, New York, NY 10022.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Rising Dragon Acquisition Corp.
Rising Dragon Acquisition Corp. is a blank check company newly incorporated as a Cayman Islands exempted company with limited liability for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Contact:
Wenyi Shen
woody.shen@hywincapital.cn
Rising Dragon Acquisition Corp.
No. 604, Yixing Road, Wanbolin District, Taiyuan City,
Shanxi Province, People’s Republic of China
FAQ
What was the IPO price for Rising Dragon Acquisition Corp. (RDACU) units?
How many units were sold in Rising Dragon Acquisition Corp.'s (RDACU) IPO?
When did Rising Dragon Acquisition Corp. (RDACU) units begin trading on NASDAQ?
What do the rights included in Rising Dragon Acquisition Corp. (RDACU) units entitle holders to?
