Range Capital Acquisition Corp. Announces Closing of $100 Million Initial Public Offering
Rhea-AI Summary
Range Capital Acquisition Corp. has successfully completed its initial public offering (IPO), raising $100 million through the sale of 10,000,000 units at $10.00 per unit. The units, trading on Nasdaq Global Market under symbol RANGU, consist of one ordinary share and one right to receive one-tenth of an ordinary share upon completing a business combination. The company's ordinary shares and rights will later trade separately under symbols RANG and RANGR. EarlyBirdCapital served as the sole book-running manager and has a 45-day option to purchase up to 1.5 million additional units to cover over-allotments.
Positive
- Successfully raised $100 million through IPO
- Listed on Nasdaq Global Market
- Underwriters granted 45-day over-allotment option for additional 1.5M units
Negative
- No specific business combination target identified yet
- Shareholders face uncertainty until acquisition target is identified
News Market Reaction
On the day this news was published, RANGU declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
The Company, which is led by Timothy Rotolo, is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
The units are listed and trading on the Nasdaq Global Market under the symbol "RANGU." Each unit consists of one ordinary share and one right entitling the holder thereof to receive one-tenth of one ordinary share upon the completion of an initial business combination. Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on the Nasdaq Global Market under the symbols "RANG" and "RANGR," respectively.
EarlyBirdCapital, Inc. served as the sole book-running manager of the offering. The underwriters have been granted a 45-day option to purchase up to an additional 1,500,000 units at the initial public offering price to cover over-allotments, if any.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (the "SEC") on December 19, 2024. The offering was made only by means of a prospectus, copies of which may be obtained by contacting EarlyBirdCapital, Inc. at 366 Madison Avenue, 8th Floor,
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Range Capital Acquisition Corp.
Range Capital Acquisition Corp. is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, or reorganization or engaging in any other similar business combination with one or more businesses or entities. The Company is led by Chairman, Chief Executive Officer and Chief Financial Officer Timothy Rotolo. The Company's team brings substantial expertise in deal sourcing, investing, and operations. The Company may pursue a business combination with a target in any industry or geographic region that it believes can benefit from the expertise and capabilities of its management team.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including with respect to the anticipated use of the proceeds of the Company's initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in the risk factors section of the registration statement and prospectus for the Company's initial public offering. Copies of these documents can be accessed through the SEC's website at www.sec.gov. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.
Media Contact:
Range Capital Acquisition Corp.
tjr@lloydharborcapital.com
631-246-0340
View original content:https://www.prnewswire.com/news-releases/range-capital-acquisition-corp-announces-closing-of-100-million-initial-public-offering-302338520.html
SOURCE Range Capital Acquisition Corp
FAQ
What is the IPO price of Range Capital Acquisition Corp. (RANGU) units?
How much money did Range Capital Acquisition Corp. (RANGU) raise in its IPO?
What do Range Capital Acquisition Corp. (RANGU) units include?
What are the separate trading symbols for Range Capital Acquisition Corp.'s securities?
What is the over-allotment option for Range Capital's (RANGU) IPO?
