Rising Dragon Acquisition Corp. Announces Separate Trading of Shares
Deal News | Nov 27, 2024 | EIN
Rising Dragon Acquisition Corp., a blank check company incorporated in the Cayman Islands, announced that, starting December 2, 2024, holders of the units sold during its IPO can now separately trade the company's ordinary shares and rights on the Nasdaq Capital Market. The IPO of Rising Dragon was completed on October 15, 2024, under the management of Lucid Capital Markets, LLC. The ordinary shares and rights will be trading under the symbols RDAC and RDACR, while the units that remain unsplit will trade under RDACU. The IPO was executed following a registration statement filed with the SEC. Rising Dragon is a Special Purpose Acquisition Company (SPAC) with no limitations on its target industry or geographic region for business combinations.
Sectors
- Finance
- Capital Markets
Geography
- United States – Rising Dragon Acquisition Corp. is listed on the Nasdaq Stock Exchange, which is based in the United States.
- China – The company is located in Shanxi Province, highlighting its operational base in China.
- Cayman Islands – Rising Dragon is incorporated as a Cayman Islands exempted company, indicating its registration and regulatory jurisdiction.
Industry
- Finance – The article discusses a financial transaction related to Rising Dragon Acquisition Corp., involving the separate trading of IPO offering units.
- Capital Markets – Rising Dragon's shares and units are traded on the Nasdaq Capital Market, emphasizing the role of capital markets in the company's operations.
Financials
- Not Specified – The article does not specify the total financial value of the IPO or any units involved.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Rising Dragon Acquisition Corp. | Target Company | Company | A SPAC incorporated in the Cayman Islands, aiming to engage in mergers or similar business combinations. |
| Lucid Capital Markets, LLC | Book-running manager | Company | The sole book-running manager for Rising Dragon's IPO. |
| Continental Stock Transfer & Trust Company | Transfer Agent | Company | Serves as the transfer agent facilitating the separation of units into ordinary shares and rights. |
| Wenyi Shen | Contact for Rising Dragon | Person | Representative for Rising Dragon tasked with communications. |