SHANXI, CHINA, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Rising Dragon Acquisition Corp. (NASDAQ: RDAC) (the "Company") announced today that it priced its initial public offering of 5,000,000 units at $10.00 per unit. The units are expected to be listed on the NASDAQ Capital Market ("NASDAQ") and trade under the ticker symbol "RDACU" beginning October 11, 2024. Each unit consists of one ordinary share and one right. Each right entitles the holder thereof to receive one-tenth (1/10) of one ordinary share upon the consummation of an initial business combination. No fractional rights will be issued upon separation of the units. As a result, ten rights are needed to receive one ordinary share at the closing of the initial business combination. Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on NASDAQ under the symbols "RDAC" and "RDACR", respectively.
The underwriters have been granted a 45-day option to purchase up to an additional 750,000 units offered by the Company to cover over-allotments, if any.
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