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Rising Dragon issues two $55.6K unsecured notes

The notes bear no interest, come due at the initial business combination, and may convert into private units at $10.00 each with advance notice.

(Moderate)

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Form Type
8-K

Rhea-AI Filing Summary

Rising Dragon Acquisition Corp. issued two unsecured promissory notes to SZG Limited, each with a principal amount of $55,637.41: the August Note on August 15, 2026, and the September Note on September 15, 2026. SZG Limited is the designee of HZJL Cayman Limited, the counterparty to the previously announced merger agreement.

The notes do not bear interest and are payable when the company consummates its initial business combination. Their proceeds were deposited in the company’s trust account in connection with extending the time available to complete that combination until October 15, 2026. SZG Limited may elect to convert all or part of the notes into private units at $10.00 per unit by giving at least five business days’ written notice before closing.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
August Note principal amount $55,637.41 Issued August 15, 2026
September Note principal amount $55,637.41 Issued September 15, 2026
Conversion price $10.00 per unit Private units
Extension deadline October 15, 2026 Time available to consummate the initial business combination
Conversion notice period At least 5 business days Written notice before closing of the business combination
unsecured promissory note financial
"issued an unsecured promissory note"
An unsecured promissory note is a written IOU in which a borrower promises to repay a loan plus any interest but does not pledge any asset as collateral. Investors care because it relies solely on the borrower’s ability to pay—like lending money to someone without holding their watch as security—so it usually carries higher interest and higher risk and ranks below secured debt if the borrower defaults, affecting expected recovery and company credit profile.
initial business combination financial
"consummates its initial business combination"
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
trust account financial
"deposited in the Company’s trust account"
A trust account is a special bank or brokerage account where assets are held and managed by a designated person or firm (the trustee) for the benefit of another person or group (the beneficiary). It matters to investors because it separates assets from personal or corporate funds, can protect assets, control how and when money is used, and may affect tax or legal rights—think of it as a locked drawer opened only under agreed rules.
private units financial
"convert the Notes, in whole or in part, into private units"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What promissory notes did RDAC issue?

Rising Dragon Acquisition Corp. issued two notes to SZG Limited, each with a principal amount of $55,637.41: one on August 15, 2026, and another on September 15, 2026.

Can SZG Limited convert RDAC’s notes into units?

Yes. SZG Limited may elect to convert all or part of the notes into private units at $10.00 per unit, with at least five business days’ written notice before the business combination closes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

August 15, 2026

Date of Report (Date of earliest event reported)

 

RISING DRAGON ACQUISITION CORP.

(Exact Name of Registrant as Specified in its Charter)

 

Cayman Islands   001-42368   n/a
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (I.R.S. Employer
Identification No.)

 

No. 604, Yixing Road,
Wanbolin District, Taiyuan City,
Shanxi Province, People’s Republic of China
  030024
(Address of Principal Executive Offices)   (Zip Code)  

 

Registrant’s telephone number, including area code: +86 18817777987

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Units, each consisting of one Ordinary Share, par value $0.0001 per share, and one Right entitling the holder to receive one-tenth of an Ordinary Share   RDACU   The Nasdaq Stock Market LLC
Ordinary Shares   RDAC   The Nasdaq Stock Market LLC
Rights   RDACR   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

The disclosure contained in Item 2.03 of this Current Report on Form 8-K is incorporated by reference in this Item 1.01.

 

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

On August 15, 2026, Rising Dragon Acquisition Corp. (the “Company”) issued an unsecured promissory note in the principal amount of $55,637.41 (the “August Note”) to SZG Limited, the designee of HZJL Cayman Limited, the counterparty to the previously announced agreement and plan of merger dated as of January 27, 2025 (the “Merger Agreement”), pursuant to which a proposed business combination among HZJL Cayman Limited, the Company, Purchaser and Merger Sub would occur. On September 15, 2026, the Company issued another unsecured promissory note in the principal amount of $55,637.41 (the “September Note” and, together with the August Note, the “Notes”) to SZG Limited.

 

The Notes do not bear interest and are payable on the date on which the Company consummates its initial business combination. The proceeds of the Notes have been deposited in the Company’s trust account in connection with extending the time available for the Company to consummate its initial business combination until October 15, 2026. In addition, the holder may elect, upon at least five business days’ written notice prior to the closing of the business combination, to convert the Notes, in whole or in part, into private units of the Company at a price of $10.00 per unit.

 

The foregoing description of the Notes is qualified in its entirety by reference to the full text of the Notes, copies of which are filed with this Current Report on Form 8-K as Exhibits 10.1 and 10.2 and are incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.   Description
10.1   Promissory Note, dated as of August 15, 2026, issued by Rising Dragon Acquisition Corp. to SZG Limited
10.2   Promissory Note, dated as of September 15, 2026, issued by Rising Dragon Acquisition Corp. to SZG Limited
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: October 13, 2026

 

RISING DRAGON ACQUISITION CORP.  
     
By: /s/ Lulu Xing  
Name: Lulu Xing  
Title: Chief Executive Officer  

 

2

 

Filing Exhibits & Attachments

6 documents

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