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.
Rising Dragon Acquisition Corp. (RDAC) reports that Nasdaq has notified the company it is not in compliance with continued listing standards. For the last 30 consecutive business days, the company’s Market Value of Listed Securities has been below the required $35 million under Nasdaq Listing Rule 5550(b)(2), and it also does not meet the Equity and Net Income standards. RDAC has 180 calendar days, until February 16, 2027, to regain compliance while its securities continue trading on the Nasdaq Capital Market. Compliance would be restored if MVLS closes at or above $35 million for at least 10 consecutive business days. If compliance is not regained, Nasdaq may delist the securities, subject to a potential appeal that may not be successful. The company states it will monitor MVLS and may evaluate options, including meeting alternative Nasdaq criteria.
Barclays PLC filed an amended ownership report showing a significant stake in Rising Dragon Acquisition Co common stock. Barclays reports beneficial ownership of 273,125 shares, representing 6.74% of the outstanding class as of June 30, 2026.
Barclays has sole power to vote and dispose of all 273,125 shares and reports no shared voting or dispositive power. The filing identifies Barclays Bank PLC as the subsidiary that acquired the securities, with the parent-level disclosure made by Barclays PLC.
D. E. Shaw & Co. and related entities report significant ownership in Rising Dragon Acquisition Corp. The group, including D. E. Shaw & Co., L.P., D. E. Shaw & Co., L.L.C., D. E. Shaw Valence Portfolios, L.L.C., and David E. Shaw, reports beneficial ownership of 273,125 Ordinary Shares of Rising Dragon Acquisition Corp., representing 8.0% of the outstanding class of Ordinary Shares, par value $0.0001 per share.
All 273,125 shares are held in the name of D. E. Shaw Valence Portfolios, L.L.C., with the reporting persons having shared voting and shared dispositive power over 273,125 shares and no sole voting or dispositive power. David E. Shaw may be deemed to be the beneficial owner of these shares by virtue of his control positions in the management entities but expressly disclaims beneficial ownership of the 273,125 shares.
Rising Dragon Acquisition Corp. ordinary shares are reported as being beneficially owned by Glazer Capital, LLC and its managing member, Paul J. Glazer, in a Schedule 13G filing. The reporting group is associated with certain funds and managed accounts for which Glazer Capital acts as investment manager, collectively referred to as the Glazer Funds.
The Reporting Persons disclose beneficial ownership of 327,439 ordinary shares, representing 5.50% of the class. They report shared voting and dispositive power over all 327,439 shares and no sole voting or dispositive power. Glazer Capital Enhanced Master Fund, Ltd., one of the Glazer Funds, has the right to receive or direct the receipt of proceeds from the sale of more than 5% of the outstanding ordinary shares. The Reporting Persons state that the filing should not be construed as an admission of beneficial ownership for all purposes under Section 13.
AQR Capital Management, LLC, together with AQR Capital Management Holdings, LLC and AQR Arbitrage, LLC, reports beneficial ownership of 340,678 Ordinary Shares of Rising Dragon Acquisition Corp. This represents 8.42% of the outstanding class of Ordinary Shares.
The AQR entities report no sole voting or dispositive power over these shares. Instead, they hold shared voting and shared dispositive power over all 340,678 shares, reflecting coordinated control within the AQR group as described in the joint filing exhibit.
Rising Dragon Acquisition Corp. is a Cayman Islands SPAC that has not yet begun operating activities and is pursuing a Business Combination with HZJL Cayman Limited under a Merger Agreement calling for $350 million in stock consideration valued at $10.00 per share. The company has extended its deal deadline multiple times and now has until August 15, 2026 to close a transaction.
As of June 30, 2026, total assets were $18,426,287, almost entirely cash in the Trust Account of $18,370,925, following significant redemptions that reduced ordinary shares subject to possible redemption to 1,685,982. Cash outside the trust was only $8,695, with a working capital deficit of $1,326,710.
For the six months ended June 30, 2026, Rising Dragon reported net income of $296,620, driven by $685,588 of interest on trust investments, offset by $388,968 of formation and operating costs. The company relied on related-party financing, including $655,637 in promissory notes and $650,241 of advances, and disclosed substantial doubt about its ability to continue as a going concern if it cannot complete a business combination by the deadline.
UBS Group AG, together with its wholly owned subsidiary UBS Securities LLC, reports beneficial ownership of common stock of Rising Dragon Acquisition Corp..
UBS reports beneficial ownership of 324,628 shares of common stock, representing 5.45% of the class. UBS has shared power to vote 324,628 shares and shared power to dispose of 174 shares, with no sole voting or dispositive power reported.
Rising Dragon Acquisition Corp. amendment to a Schedule 13G/A states that RiverNorth Capital Management, LLC reports 0 shares beneficially owned of Ordinary Shares (CUSIP G7576K107), representing 0.00% of the class. The filing lists voting and dispositive powers as zero and is signed by Marcus Collins on 07/09/2026.
Rising Dragon Acquisition Corp. received Amendment No. 3 to a Schedule 13G/A from Karpus Management, Inc., which states 0.00 shares beneficially owned representing 0.00% of the common stock (CUSIP G7576K107) as of 06/30/2026. The amendment is signed by the reporting person’s Chief Compliance Officer.