Here are the 10-K annual reports from RF Acquisition Corp II Right (RFAIR) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow RFAIR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full RFAIR filings page.
RF Acquisition Corp II, a Cayman Islands-based blank check company, filed its annual report for the year ended December 31, 2025. The SPAC has not begun operating activities and will only generate interest income on cash held in its trust until it completes a business combination.
The company raised $115 million in its May 2024 IPO and related over-allotment, and placed $115,575,000 into a trust account. On November 10, 2025, shareholders approved an extension of the deadline to complete a deal to August 15, 2026, with up to nine monthly one-month extensions funded at $0.03 per non‑redeemed public share. In connection with that vote, 6,668,735 ordinary shares were redeemed for approximately $71,580,705, leaving about $51,857,714 in the trust and 8,343,765 ordinary shares outstanding as of February 11, 2026, including 4,831,265 public shares.
The sponsor, Alfa 24 Limited, holds 2,875,000 founder shares and previously purchased private placement units alongside the underwriter. The report highlights that as of December 31, 2025, the company had a working capital deficit of $567,649 and its auditor raised substantial doubt about its ability to continue as a going concern if it cannot close a business combination within the 27‑month window. If no transaction is completed, public shareholders are expected to be redeemed at approximately $10.05 per share, while the rights and private placement securities would expire worthless.