The SPAC has lost its target and must find a new business combination within its charter deadline. Monitor for a new target announcement or a liquidation risk if no deal is reached in time.
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Executive Summary
Rising Dragon Acquisition Corp. (RDAC) mutually terminated its merger agreement with HZJL Cayman Limited, effective October 30, 2026. No termination fee was paid by any party. The SPAC will continue to seek an initial business combination; outstanding promissory notes of $455,919.41 survive and are payable only upon a future business combination.
Key Facts
- Merger agreement dated January 27, 2025 with HZJL Cayman Limited was mutually terminated on October 30, 2026.
- No termination fee was paid by any party.
- Mutual releases were exchanged, subject to exceptions for willful breach, fraud, and the Subject Promissory Notes.
- Unsecured promissory notes totaling $455,919.41 (issued to SZG Limited and Aurora Beacon LLC) survive termination and are payable only upon a future business combination.
- Rising Dragon intends to continue pursuing an initial business combination within its permitted time period.
Financial Impact
No termination fee; $455,919.41 in promissory notes deferred to a future business combination.
Risk Factors
- Failure to consummate a subsequent business combination within the permitted time period would trigger automatic cancellation of the promissory notes and likely lead to dissolution and return of trust proceeds to shareholders.
- No termination fee was received, so the trust account is not replenished by this event.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-115158 |
| Document: ea0310535-8k_rising.htm | 0001213900-26-115158 |
| Document: ea031053501ex99-1.htm | 0001213900-26-115158 |
| Document: 0001213900-26-115158-index-headers.html | 0001213900-26-115158 |
| Document: 0001213900-26-115158-index.html | 0001213900-26-115158 |
| Document: 0001213900-26-115158.txt | 0001213900-26-115158 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 4, 2026 today | SC 13G/A | $11.09 | awaiting T+20 | awaiting T+20 | $11.27 (+1.62%) |
Nov 3, 2026 1d ago | 8-K | $11.29 | awaiting T+20 | awaiting T+20 | $11.27 (−0.21%) |
Oct 29, 2026 6d ago | 8-K | $4.93 | awaiting T+20 | awaiting T+20 | $11.27 (+128.64%) |
Oct 13, 2026 22d ago | 8-K | $5.43 | awaiting T+20 | awaiting T+20 | $11.27 (+107.55%) |
Aug 20, 2026 10w ago | 8-K | $7.00 $5.64 | ▲ +19.43% | ▲ +19.43% | $11.27 (−61.00%) |
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