Rising Dragon Acquisition Corp. announced the pricing of its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RDACU”, Friday, October 11, 2024.
The new SPAC does not plan to target a particular industry or geography in its combination search but plans to leverage the experience of its team.
Rising Dragon’s sponsor team is to be led by Chief Executive Office and Chairman Lulu Xing and Chief Financial Officer Wenyi Shen. Its Board is to be steered by Directors Kei Tung Yeung, Kun-Lin Liu, Robert Wilson Garner, and Chengming Dou.
Total SPAC deal count for 2024 year-to-date is now 37. This offering is expected to close on Tuesday, October 15, 2024.
Lucid Capital Markets acted as sole book running manager in the offering. Loeb & Loeb LLP is serving as Issuer’s Counsel with Blank Rome LLP serving as Underwriter’s Counsel. Adeptus Partners LLC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
October continued the recent trend of SPAC teams seeking additional extensions beyond their first one, as they work on closing their combinations with the remaining funds after redemptions. Meanwhile, new SPACs are launching IPOs and beginning their search processes, signaling a shift in the market. Extension Votes In October, there were 13 scheduled extension votes....
K&F Growth II (NASDAQ:KFIIU) has filed for a $250 million IPO with aggressive terms and a laser focus on hospitality and gaming targets. The SPAC comes to market with a 24-month initial search clock and a trust that is not overfunded. This makes it only the second of underwriter BTIG’s nine SPACs filed in 2024...
At the SPAC of Dawn During a day of Halloween parties, SPACs adopted a one in, one out policy with two fresh SPACs pricing their IPOs just as two others opted to exit the club via liquidation. Given that the two new SPACs, Bleichroeder I (NASDAQ:BACQU) and Newbury Street II (NASDAQ:NTWOU), will begin trading later...
Bleichroeder Acquisition Corp. I (Nasdaq: BACQU), announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “BACQU”, Friday, November 1, 2024. The new SPAC intends to focus their efforts on businesses in the technology, media and telecommunications (“TMT”) sector as well as sectors...
Newbury Street II Acquisition Corp (Nasdaq: NTWOU), announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NTWOU”, Friday, November 1, 2024. The new SPAC intends to capitalize on the deal making and business building experience of their management team when conducting the...