# Rising Dragon Acquisition Secures $111K Notes From SZG to Extend SPAC Deadline

- URL: https://stocks.freetheai.org/news/rising-dragon-acquisition-secures-111k-notes-from-szg-to-extend-spac-deadline-e23398
- Published: 2026-10-13T10:23:00Z
- Category: mergers; sentiment: neutral; impact: low
- Symbols: [NASDAQ:RDAC](https://stocks.freetheai.org/symbols/NASDAQ-RDAC)
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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.

## Questions 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.