Rising Dragon Acquisition Secures $111K Notes From SZG to Extend SPAC Deadline
Rising Dragon Acquisition Corp. (RDAC) has issued two unsecured, zero-interest promissory notes totaling $111,274.82 to SZG. The proceeds were deposited into the special purpose acquisition company's trust account to extend its initial business combination deadline to October 15, 2026. Shares of the company rose 2.76% to $5.58 following the news.
The financing came in two equal installments of $55,637.41, effective August 15, 2026, and September 15, 2026. By depositing these funds into trust, the blank-check firm buys additional time to evaluate and complete a prospective merger. Both notes mature upon the closing of a business combination, and SZG holds the option to convert the principal into private units at $10.00 per unit by providing at least five business days' notice prior to closing.
Investors will be watching whether Rising Dragon Acquisition Corp. can finalize a transaction before the revised cutoff date. Further updates regarding target acquisition candidates or additional deadline modifications will be key for shareholders monitoring the transaction timeline.
Key points
- Rising Dragon Acquisition Corp. (RDAC) issued two zero-interest promissory notes totaling $111,274.82 to SZG.
- The proceeds were deposited into the trust account to move the business combination deadline to October 15, 2026.
- Each $55,637.41 note matures at deal closing and can convert to private units at $10.00 per unit.
- Shares of Rising Dragon Acquisition Corp. gained 2.76% to trade at $5.58.
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How we writeDisclaimerQuestions and answers
Why did Rising Dragon Acquisition Corp. raise $111,274?
Rising Dragon Acquisition Corp. raised $111,274.82 to deposit into its trust account and extend its initial business combination deadline to October 15, 2026.
What are the terms of the promissory notes issued by Rising Dragon Acquisition?
The two zero-interest, unsecured notes of $55,637.41 each are payable at merger closing and convertible into private units at $10.00 per unit with notice.
Who provided the promissory notes to Rising Dragon Acquisition?
The promissory notes were issued to SZG in two separate agreements effective August 15, 2026, and September 15, 2026.