Rising Dragon Acquisition Corp. Announces Pricing of $50 Million Initial Public Offering
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.
Rising Dragon Acquisition Corp. (NASDAQ: RDAC) ha fissato il prezzo della sua offerta pubblica iniziale (IPO) a 50 milioni di dollari. L'offerta comprende 5.000.000 di unità prezzate a 10,00 dollari per unità. Ogni unità consiste di un'azione ordinaria e un diritto, con ogni diritto che consente al possessore di ricevere un decimo di un'azione ordinaria al termine di una combinazione commerciale iniziale. Le unità saranno quotate nel NASDAQ Capital Market con il simbolo RDACU a partire dal 11 ottobre 2024. Una volta che il trading separato avrà inizio, le azioni ordinarie e i diritti saranno scambiati con i simboli RDAC e RDACR rispettivamente. L'offerta dovrebbe chiudersi il 15 ottobre 2024, subordinata alle consuete condizioni di chiusura. Lucid Capital Markets sta gestendo l'offerta, con Loeb & Loeb LLP e Blank Rome LLP che fungono da consulenti legali.
Rising Dragon Acquisition Corp. (NASDAQ: RDAC) ha fijado el precio de su oferta pública inicial (IPO) en 50 millones de dólares. La oferta incluye 5.000.000 de unidades a un precio de 10,00 dólares por unidad. Cada unidad consiste en una acción ordinaria y un derecho, siendo cada derecho un título que permite al titular recibir un décimo de una acción ordinaria tras la consumación de una combinación empresarial inicial. Las unidades se listarás en el NASDAQ Capital Market bajo el símbolo RDACU a partir del 11 de octubre de 2024. Una vez que inicie el comercio separado, las acciones ordinarias y los derechos se negociarás bajo los símbolos RDAC y RDACR respectivamente. Se espera que la oferta cierre el 15 de octubre de 2024, sujeto a las condiciones habituales de cierre. Lucid Capital Markets está gestionando la oferta, con Loeb & Loeb LLP y Blank Rome LLP desempeñándose como asesores legales.
Rising Dragon Acquisition Corp. (NASDAQ: RDAC)는 5000만 달러 규모의 기업 공개(IPO) 가격을 책정했습니다. 이 공모는 5,000,000 유닛이 10.00달러의 단가로 이루어져 있습니다. 각 유닛은 하나의 보통주와 하나의 권리가 포함되어 있으며, 각 권리는 초기 사업 결합 완료 시 보통주의 10분의 1을 받을 수 있는 권리를 부여합니다. 유닛은 NASDAQ Capital Market에 RDACU 티커 기호로 2024년 10월 11일부터 상장됩니다. 별도 거래가 시작되면, 보통주와 권리는 각각 RDAC 및 RDACR 기호로 거래됩니다. 이 공모는 2024년 10월 15일에 마감될 것으로 예상되며, 일반적인 마감 조건에 따릅니다. Lucid Capital Markets가 이 공모를 관리하며, Loeb & Loeb LLP와 Blank Rome LLP가 법률 고문 역할을 맡고 있습니다.
Rising Dragon Acquisition Corp. (NASDAQ: RDAC) a fixé le prix de son introduction en bourse (IPO) à 50 millions de dollars. L'offre comprend 5 000 000 d'unités au prix de 10,00 dollars par unité. Chaque unité se compose d'une action ordinaire et d'un droit, chaque droit permettant à son titulaire de recevoir un dixième d'une action ordinaire lors de la réalisation d'une combinaison commerciale initiale. Les unités seront cotées sur le NASDAQ Capital Market sous le symbole RDACU à partir du 11 octobre 2024. Une fois que le trading séparé débutera, les actions ordinaires et les droits seront échangés sous les symboles RDAC et RDACR respectivement. L'offre devrait se terminer le 15 octobre 2024, sous réserve des conditions de clôture habituelles. Lucid Capital Markets gère l'offre, avec Loeb & Loeb LLP et Blank Rome LLP en tant que conseillers juridiques.
Rising Dragon Acquisition Corp. (NASDAQ: RDAC) hat den Preis für ihr Initial Public Offering (IPO) auf 50 Millionen Dollar festgelegt. Das Angebot umfasst 5.000.000 Einheiten, die zu einem Preis von 10,00 Dollar pro Einheit angeboten werden. Jede Einheit besteht aus einer Stammaktie und einem Recht, wobei jedes Recht dem Inhaber das Recht gibt, bei erfolgreicher Durchführung einer ersten Unternehmenszusammenschlusses ein Zehntel einer Stammaktie zu erhalten. Die Einheiten werden ab dem 11. Oktober 2024 im NASDAQ Capital Market unter dem Tickersymbol RDACU gelistet. Sobald der separate Handel beginnt, werden die Stammaktien und Rechte unter den Symbolen RDAC und RDACR gehandelt. Das Angebot soll am 15. Oktober 2024 schließen, vorbehaltlich der üblichen Abschlussbedingungen. Lucid Capital Markets verwaltet das Angebot, während Loeb & Loeb LLP und Blank Rome LLP als rechtlicher Berater fungieren.
- Rising Dragon Acquisition Corp. raised $50 million through its IPO.
- The IPO consists of 5,000,000 units priced at $10.00 per unit.
- The units will be listed on NASDAQ under the ticker symbol RDACU.
- Lucid Capital Markets is managing the offering.
- Shareholders need ten rights to receive one ordinary share, which may dilute the value of individual rights.
Insights
Rising Dragon Acquisition Corp.'s $50 million IPO marks a significant entry into the SPAC market. The pricing at
The 45-day over-allotment option for an additional 750,000 units provides flexibility to meet excess demand, potentially increasing the total raise to
Investors should note that SPACs carry inherent risks, as success depends on finding a suitable target within the typical 18-24 month timeframe. The
The launch of Rising Dragon Acquisition Corp. reflects the ongoing appetite for SPACs in the market, despite recent regulatory scrutiny. This China-based SPAC could potentially target high-growth sectors in the Asian market, offering U.S. investors unique exposure to these opportunities.
The choice of Lucid Capital Markets as the sole book runner suggests a focused distribution strategy. Investors should monitor the initial trading performance of RDACU units, as it may indicate market sentiment towards China-focused SPACs in the current geopolitical climate.
The separate trading of shares (RDAC) and rights (RDACR) will provide additional liquidity options for investors. However, the lack of traditional warrants in the unit structure may result in less speculative trading compared to other SPACs, potentially leading to more stable price action in the near term.
SHANXI, CHINA, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Rising Dragon Acquisition Corp. (NASDAQ: RDAC) (the "Company") announced today that it priced its initial public offering of 5,000,000 units at
The underwriters have been granted a 45-day option to purchase up to an additional 750,000 units offered by the Company to cover over-allotments, if any.
The offering is expected to close on October 15, 2024, subject to customary closing conditions.
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.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 10, 2024. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Lucid Capital Markets, 570 Lexington Avenue, 40th Floor, New York, NY 10022. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.
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 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
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