Rising Dragon Acquisition Corp.

Snapshot

Rising Dragon is a SPAC shell with no revenue, holding $9K in cash against $656K of debt. Its auditors flagged going-concern doubt, and its trust account shrank from $44.4M to $18.4M on redemptions.

What's Happening Right Now

• Tue 3rd Nov '26 · Merger terminated: On Nov 3, 2026 Rising Dragon and HZJL Cayman mutually terminated their January 2025 merger agreement effective Oct 30, 2026, with no termination fee owed; the SPAC says it will keep looking for a new target with its trust clock still running.
• Thu 29th Oct '26 · Extension financing: To keep the (since-terminated) HZJL deal alive, Rising Dragon issued interest-free promissory notes to its sponsor and HZJL's designee on Oct 15, 2026 (totaling $55,637.41, following an earlier $111,274.82 in notes), depositing proceeds into the trust account to push its combination deadline to Nov 15, 2026.
• Thu 20th Aug '26 · Nasdaq notice: On Aug 19, 2026 Nasdaq notified Rising Dragon that its market value of listed securities had been below the $35 million minimum for 30 straight business days, and also flagged failures of the equity and net-income listing standards, giving the company until about Feb 16, 2027 to regain compliance.
• Fri 7th Aug '26 · Going concern: Rising Dragon's Aug 7, 2026 10-Q disclosed substantial doubt about its ability to continue as a going concern, with just $8,695 in cash, a $1.33 million working capital deficit, and its trust account down to $18.37 million from $44.39 million after waves of shareholder redemptions.