Reported Earlier, Rising Dragon Acquisition Corp. Prices $50M Initial Public Offering Of 5M Units At $10/Unit
Portfolio Pulse from Benzinga Newsdesk
Rising Dragon Acquisition Corp. has priced its $50M IPO, offering 5M units at $10 each. The units will be listed on NASDAQ under the ticker 'RDACU' starting October 11, 2024. Each unit includes one ordinary share and one right, with each right converting to one-tenth of a share upon a business combination.
October 11, 2024 | 7:45 am
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Rising Dragon Acquisition Corp. is launching a $50M IPO with units priced at $10 each, to be traded on NASDAQ under 'RDACU'. Each unit includes a share and a right, with rights converting to shares upon a business combination.
The IPO announcement is likely to generate interest and potential price movement as it begins trading. The structure of the units, including rights that convert to shares, adds an element of future value contingent on a business combination.
CONFIDENCE 90
IMPORTANCE 80
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