Rising Dragon Acquisition Corp. reports joint Schedule 13G/A ownership disclosure by two investment-adviser control persons.
The filing states that Kerry Propper and Antonio Ruiz-Gimenez each have shared voting and dispositive power over 137,000 shares of Ordinary Shares, representing 2.3% of the class based on 5,951,030 Shares issued and outstanding as of March 30, 2026. The shares are held by private funds managed by ATW SPAC Management LLC and SZOP Multistrat Management LLC, whose managing members are Propper and Ruiz-Gimenez, and both control persons disclaim direct beneficial ownership except for any pecuniary interest.
Positive
None.
Negative
None.
Insights
Joint 13G/A reports shared control over 137,000 shares each (2.3% of class).
The filing states the holdings are held by private funds managed by ATW SPAC Management LLC and SZOP Multistrat Management LLC, with Propper and Ruiz-Gimenez acting as the funds' managing members and “Control Persons.” The report follows the disclosure format for passive/beneficial ownership under Schedule 13G/A.
The filing preserves the customary disclaimer: the Control Persons disclaim beneficial ownership except for any pecuniary interest. Subsequent filings would show any change in voting/dispositive arrangements or percent ownership.
Holders report shared voting and dispositive power via managed funds; position size is modest.
The disclosed position is 137,000 shares each, equal to 2.3% of the company's 5,951,030 outstanding shares as of March 30, 2026. The structure is via registered investment advisers, not direct individual holdings.
Materiality is limited by the sub-5% ownership level reported; investor attention may focus on future amendments if aggregated fund ownership or control arrangements change.
Key Figures
Shares held per person:137,000 sharesPercent of class:2.3%Shares outstanding:5,951,030 Shares+2 more
5 metrics
Shares held per person137,000 sharesAmount beneficially owned by Kerry Propper and by Antonio Ruiz-Gimenez
Percent of class2.3%Percent of Ordinary Shares for each reporting person
Shares outstanding5,951,030 SharesShares issued and outstanding as of March 30, 2026
Sole voting power0Sole power to vote reported for each person
Shared voting power137,000 sharesShared power to vote for each reporting person
"The filing is identified as a joint Schedule 13G/A ownership disclosure"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
beneficially ownedregulatory
"Amount beneficially owned: Antonio Ruiz-Gimenez - 137,000"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
shared voting powerregulatory
"Shared Voting Power 137,000.00 for each reporting person"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
disclaims beneficial ownershiplegal
"Each of the Control Persons disclaims beneficial ownership of the Shares reported herein"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Rising Dragon Acquisition Corp.
(Name of Issuer)
Ordinary Shares
(Title of Class of Securities)
G7576K107
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
G7576K107
1
Names of Reporting Persons
Kerry Propper
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
137,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
137,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
137,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.3 %
12
Type of Reporting Person (See Instructions)
HC, IN
Comment for Type of Reporting Person: Please see note in Item 4(a).
SCHEDULE 13G
CUSIP Number(s):
G7576K107
1
Names of Reporting Persons
Antonio Ruiz-Gimenez
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
SPAIN
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
137,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
137,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
137,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.3 %
12
Type of Reporting Person (See Instructions)
HC, IN
Comment for Type of Reporting Person: Please see note in Item 4(a).
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Rising Dragon Acquisition Corp.
(b)
Address of issuer's principal executive offices:
No. 604, Yixing Road, Wanbolin District,
Taiyuan City, China 030024
Item 2.
(a)
Name of person filing:
Antonio Ruiz-Gimenez*
Kerry Propper*
(b)
Address or principal business office or, if none, residence:
1 Pennsylvania Plaza, Suite 4810
New York, New York 10119
(c)
Citizenship:
Antonio Ruiz-Gimenez - Spain
Kerry Propper - United States
(d)
Title of class of securities:
Ordinary Shares
(e)
CUSIP No.:
G7576K107
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Antonio Ruiz-Gimenez - 137,000*
Kerry Propper - 137,000*
*The Ordinary Shares (the "Shares") of Rising Dragon Acquisition Corp. (the "Issuer") reported herein are held by (1) one or more private funds managed by ATW SPAC Management LLC ("ATW SPAC"), which has been delegated exclusive authority to vote and/or direct the disposition of certain Shares and (2) a private fund, SZOP Multistrat LP, managed by SZOP Multistrat Management LLC ("SZOP"). SZOP and ATW SPAC are registered investment advisers whose managing members are Kerry Propper and Antonio Ruiz-Gimenez (the "Control Persons").
The percentages reported herein are based upon the 5,951,030 Shares issued and outstanding as of March 30, 2026, as disclosed in the Issuer's Form 10-K filed with the SEC on March 30, 2026.
By virtue of the relationships, the Control Persons may be deemed to have shared voting and dispositive power with respect to the Shares. This report shall not be deemed an admission that the Control Persons or any other person is the beneficial owner of the Shares reported herein for purposes of Section 13 of the Securities Exchange Act of 1934, as amended, or for any other purpose. Each of the Control Persons disclaims beneficial ownership of the Shares reported herein except to the extent of each of their pecuniary interest, if any, therein.
(b)
Percent of class:
Antonio Ruiz-Gimenez - 2.3%*
Kerry Propper - 2.3%*
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Antonio Ruiz-Gimenez - 0
Kerry Propper - 0
(ii) Shared power to vote or to direct the vote:
Antonio Ruiz-Gimenez - 137,000*
Kerry Propper - 137,000*
(iii) Sole power to dispose or to direct the disposition of:
Antonio Ruiz-Gimenez - 0
Kerry Propper - 0
(iv) Shared power to dispose or to direct the disposition of:
Antonio Ruiz-Gimenez - 137,000*
Kerry Propper - 137,000*
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What stake do Kerry Propper and Antonio Ruiz-Gimenez report in RDAC?
They each report shared control over 137,000 shares, representing 2.3% of the class based on 5,951,030 shares outstanding as of March 30, 2026. The shares are held through funds they manage.
Are Propper and Ruiz-Gimenez claiming personal beneficial ownership of RDAC shares?
No. Each disclaims beneficial ownership except for any pecuniary interest; the shares are held by private funds managed by their registered adviser entities, per the filing's disclaimer language.
How is voting and dispositive power reported for these holdings?
The filing shows 0 sole voting/dispositive power and 137,000 shared voting and shared dispositive power for each individual, indicating control is exercised jointly through the adviser-managed funds.
What is the ownership reporting basis and date for the percent calculation?
Percentages are calculated using 5,951,030 Shares issued and outstanding as of March 30, 2026, as disclosed in the issuer's Form 10-K referenced in the Schedule 13G/A.
