Rising Dragon Acquisition Corp. (NASDAQ: RDAC) uses new notes to extend merger window
Rhea-AI Filing Summary
Rising Dragon Acquisition Corp. entered into short-term financing arrangements tied to its pending business combination. On June 15, 2026 it issued two unsecured promissory notes, each with a principal amount of $27,818.5, to Aurora Beacon LLC (its sponsor) and SZG Limited, designee of HZJL Cayman Limited. On July 15, 2026 it issued a third unsecured promissory note with a principal amount of $55,637.41 to SZG Limited.
The notes bear no interest and mature upon closing of Rising Dragon’s initial business combination. The proceeds were deposited into the company’s trust account in connection with extending the business combination completion window until August 15, 2026. Each note may be converted by its holder into units identical to those issued in the company’s IPO at a conversion price of $10.00 per unit.
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8-K Event Classification
3 items: 1.01, 2.03, 9.01
3 items
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, and exhibit attachments filed with this report.
Key Figures
June promissory notes principal: $27,818.5 each
July promissory note principal: $55,637.41
Conversion price: $10.00 per unit
+2 more
5 metrics
June promissory notes principal
$27,818.5 each
Two unsecured notes issued June 15, 2026
July promissory note principal
$55,637.41
Unsecured note issued July 15, 2026 to SZG Limited
Conversion price
$10.00 per unit
Notes convertible into units identical to IPO units
Extended completion window
August 15, 2026
Deadline to complete initial business combination
Number of June notes
2 notes
Unsecured notes issued June 15, 2026
Key Terms
unsecured promissory notes, trust account, business combination completion window, initial public offering
4 terms
unsecured promissory notes financial
"issued two unsecured promissory notes, each with a principal amount of $27,818.5"
trust account financial
"The proceeds of the Notes have been 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.
business combination completion window regulatory
"in connection with extending the business combination completion window until August 15, 2026"
initial public offering financial
"units of the Company identical to the units issued in the Company’s initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What new debt did RDAC incur on June 15 and July 15, 2026?
Rising Dragon Acquisition Corp. issued three unsecured promissory notes in mid-2026. Two notes of $27,818.5 each went to its sponsor and SZG Limited; a third note of $55,637.41 went to SZG Limited.
Who received the promissory notes issued by RDAC?
The notes went to Aurora Beacon LLC, Rising Dragon’s sponsor, and SZG Limited. SZG Limited is described as the designee of HZJL Cayman Limited, Rising Dragon’s previously announced merger counterparty.
What are the key terms of RDAC’s new promissory notes?
The notes are unsecured, non-interest-bearing obligations that mature upon closing of Rising Dragon’s initial business combination. Holders may convert them into IPO-equivalent units at $10.00 per unit instead of being repaid in cash.
How will RDAC use the proceeds from these promissory notes?
Proceeds from the notes were deposited into the company’s trust account. This funding is tied to extending the window to complete Rising Dragon’s initial business combination until August 15, 2026.
When do RDAC’s new notes come due?
The promissory notes mature upon closing of Rising Dragon’s initial business combination. There is no fixed calendar maturity date; repayment or conversion occurs when that business combination is completed.