RF Acquisition Corp II Announces Pricing of $100 Million Initial Public Offering

Rhea-AI Summary

RF Acquisition Corp II announced the pricing of its $100 million initial public offering (IPO) of 10,000,000 units at $10.00 per unit. Trading starts on May 17, 2024, on Nasdaq under the ticker 'RFAIU'. Each unit includes one ordinary share and one right to receive one-twentieth of an ordinary share. The ordinary shares and rights will trade separately under 'RFAI' and 'RFAIR' once the units separate. The offering is set to close on May 21, 2024, pending usual conditions. RF Acquisition Corp II, a blank check company, aims to merge with or acquire businesses but has no specific targets yet. EarlyBirdCapital is the sole bookrunner and Revere Securities co-manages the offering. The Company offers an option for underwriters to buy an extra 1,500,000 units within 45 days to cover over-allotments.

Positive

• IPO priced at $100 million, potentially increasing capital for future acquisitions.
• Units start trading on May 17, 2024, providing liquidity and investment opportunities.
• EarlyBirdCapital and Revere Securities' involvement indicates strong institutional support.
• Option to purchase additional 1,500,000 units may provide further capital if exercised.

Negative

• The company has no specific business targets, creating uncertainty for investors.
• No substantive discussions with potential acquisition targets have taken place.
• Blank check companies carry inherent risks due to speculative nature.

GRAND CAYMAN, Cayman Islands, May 16, 2024 (GLOBE NEWSWIRE) -- RF Acquisition Corp II (the “Company”) today announced the pricing of its initial public offering of 10,000,000 units at a price of $10.00 per unit. The units will be listed on the Nasdaq Global Market (“Nasdaq”) and trade under the ticker symbol “RFAIU” beginning on May 17, 2024. Each unit consists of one ordinary share, par value $0.0001 per share, of the Company (“ordinary share”), and one right to receive one-twentieth of one ordinary share. After the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on Nasdaq under the symbols “RFAI” and “RFAIR,” respectively. The offering is expected to close on May 21, 2024, subject to customary closing conditions.

RF Acquisition Corp II is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.

RF Acquisition Corp II is led by Tse Meng Ng, the Company’s Chief Executive Officer and Chairman of the board of directors, and Chee Soon Tham, the Company’s Chief Financial Officer and director. The Company's independent directors include Vincent Hui Yang and Ryan Lee Wen.

EarlyBirdCapital, Inc. the representative of the underwriters, is acting as sole bookrunning manager of the offering and Revere Securities is acting as co-manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 units at the initial public offering price to cover over-allotments, if any.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on May 16, 2024. This press release shall not constitute an offer to sell or the 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.

The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from EarlyBirdCapital, Inc., Attn: Syndicate Department, 366 Madison Avenue, 8th Floor, New York, New York 10017.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and search for an initial business combination. 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. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Tse Meng Ng
Chairman and CEO
guo.lu@ruifengwealth.com

FAQ

When is RF Acquisition Corp II's IPO date?

The IPO date is May 17, 2024.

What is the ticker symbol for RF Acquisition Corp II's units?

The ticker symbol for the units is 'RFAIU'.

How many units are being offered in RF Acquisition Corp II's IPO?

10,000,000 units are being offered in the IPO.

What does each unit of RF Acquisition Corp II include?

Each unit includes one ordinary share and one right to receive one-twentieth of an ordinary share.

Where will RF Acquisition Corp II's ordinary shares and rights trade?

Ordinary shares will trade under 'RFAI' and rights under 'RFAIR' on Nasdaq.

What is the purpose of RF Acquisition Corp II?

The company aims to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination.

When is the offering expected to close?

The offering is expected to close on May 21, 2024, subject to closing conditions.

What is the price per unit in RF Acquisition Corp II's IPO?

The price per unit is $10.00.

Who are the underwriters for RF Acquisition Corp II's IPO?

EarlyBirdCapital is the sole bookrunning manager, and Revere Securities is the co-manager.

Is there an over-allotment option for the underwriters?

Yes, the underwriters have a 45-day option to purchase an additional 1,500,000 units.