Rainier Acquisition Corporation (RNAQ) will allow holders of its Nasdaq-listed units to separately trade the embedded Class A ordinary shares and warrants starting September 14, 2026. Each unit, which has traded under the symbol “RNAQU” since August 27, 2026, consists of one Class A ordinary share and one-quarter of one redeemable warrant. No fractional warrants are issued on separation, and only whole warrants will trade and be exercisable.
The separated Class A ordinary shares and whole warrants are expected to begin trading on Nasdaq on September 15, 2026 under the symbols “RNAQ” and “RNAQW,” respectively, while unsplit units will continue under “RNAQU.” Each whole warrant entitles its holder to purchase one Class A ordinary share at an exercise price of $11.50 per share, subject to adjustments. Rainier’s initial public offering, including full exercise of the underwriter’s over-allotment option, comprised 8,625,000 units and generated gross proceeds of $86,250,000, with $10.00 per unit placed into a trust account.
Rainier Acquisition Corporation (RNAQ) reported that the underwriter of its initial public offering fully exercised its over-allotment option on September 2, 2026, purchasing an additional 1,125,000 units at $10.00 per unit.
This closing increased total units sold in the IPO to 8,625,000 and aggregate gross proceeds to $86,250,000, before underwriting discounts and offering expenses. An equal amount of $86,250,000, or $10.00 per unit, is now held in the company’s trust account. Each unit includes one Class A ordinary share and one-quarter of one redeemable warrant, with each whole warrant exercisable for one Class A ordinary share at $11.50 per share. The units began trading on the Nasdaq Capital Market on August 27, 2026 under the ticker “RNAQU,” and the Class A ordinary shares and warrants are expected to trade separately as “RNAQ” and “RNAQW,” respectively. Rainier is a special purpose acquisition company targeting business combinations in global life sciences sectors, led by CEO Gbola Amusa and CFO Guy Barudin.
Rainier Acquisition Corporation (Nasdaq: RNAQU/RNAQ/RNAQW) priced its initial public offering of 7,500,000 units at $10.00 per unit, for expected gross proceeds of $75,000,000 before underwriting discounts and expenses. Each unit consists of one Class A ordinary share and one-quarter of one redeemable warrant, with each whole warrant exercisable at $11.50 per share.
The units are expected to begin trading on the Nasdaq Capital Market under the symbol RNAQU on August 27, 2026, with the Class A shares and warrants later trading separately under RNAQ and RNAQW. The offering is expected to close on August 28, 2026, subject to customary conditions. Rainier is a special purpose acquisition company targeting global life sciences sectors and has granted the underwriter, Chardan, a 45-day option to purchase up to an additional 1,125,000 units at the IPO price to cover over-allotments. A registration statement was declared effective by the SEC on August 26, 2026.