Rising Dragon Acquisition Corp. Concludes $57.5 Million IPO Successfully

Rising Dragon Acquisition Corp. Closes Initial Public Offering

Taiyuan City, China — Rising Dragon Acquisition Corp. (NASDAQ: RDAC) has achieved a significant milestone by closing its initial public offering, raising $57.5 million through the sale of 5,750,000 units, each priced at $10.00. This offering also included the full exercise of the underwriters' option to purchase an additional 750,000 units to cover over-allotments, signaling strong investor interest.

Details of the Public Offering

Each unit issued in the offering consists of one ordinary share and one right. The rights entitlement allows investors to receive one-tenth (1/10) of an ordinary share upon the completion of an initial business combination. The units commenced trading under the ticker symbol “RDACU” on the NASDAQ Capital Market on October 11, 2024. Once separated, the ordinary shares and rights are expected to trade under the symbols “RDAC” and “RDACR,” respectively.

Key Players in the Offering

Lucid Capital Markets has taken the lead as the sole book-running manager for this successful offering. The legal framework for the transaction was backed by Loeb & Loeb LLP serving as legal counsel to the Company, while Blank Rome LLP provided counsel to Lucid Capital Markets. Additionally, Maples & Calder (Hong Kong) LLP represented the Company in matters relating to Cayman Islands law.

Regulatory Compliance

To ensure the legality of the offering, a registration statement on Form S-1 was submitted to the Securities and Exchange Commission (SEC) and received effective status on October 10, 2024. Interested parties can obtain a final prospectus related to the offering via the SEC's website. The prospectus was filed as part of the effective registration statement, and electronic copies can be acquired from Lucid Capital Markets, located at 570 Lexington Avenue, 40th Floor, New York, NY 10022.

About Rising Dragon Acquisition Corp.

Rising Dragon Acquisition Corp. is a newly established blank check company, incorporated in the Cayman Islands. The Company aims to identify and acquire one or more businesses through mechanisms such as mergers, share exchanges, asset acquisitions, and other similar business combinations. Its search for a target business is not confined to any specific industry or geographic area, reflecting a wide-ranging investment strategy.

Investor Expectations

This move towards an IPO not only showcases Rising Dragon Acquisition Corp.'s commitment to growth but also offers investors the potential to participate in forthcoming business ventures. By going public, the Company is well-positioned to capitalize on strategic acquisition opportunities as they arise, promising to enhance overall market competitiveness.

Contact Details for Rising Dragon Acquisition Corp.

For further inquiries, please reach out to:
Wenyi Shen
woody.shen@hywincapital.cn
Rising Dragon Acquisition Corp.
No. 604, Yixing Road, Wanbolin District, Taiyuan City, Shanxi Province, People’s Republic of China

Frequently Asked Questions

What was the amount raised in the IPO by Rising Dragon Acquisition Corp.?

The IPO raised a total of $57.5 million through the sale of 5,750,000 units.

When did the units commence trading?

The units began trading on October 11, 2024, on the NASDAQ under the ticker symbol “RDACU”.

What does each unit consist of?

Each unit consists of one ordinary share and one right, which permits the holder to receive partial ordinary shares after a business combination.

Who acted as the book-running manager for the offering?

Lucid Capital Markets was the sole book-running manager for the IPO of Rising Dragon Acquisition Corp.

What is the purpose of Rising Dragon Acquisition Corp.?

Rising Dragon Acquisition Corp. is designed to seek out one or more businesses for acquisitions without limiting itself to specific industries or regions.

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