RDAC$11.30+121.57%
Rising Dragon Acquisition Corp.
Sector: Blank ChecksIndustry: Shell CompaniesCountry: CNExchange: Nasdaq
Mkt Cap:$38.82M
Float & O/S:
Inst Own:
DilutionScan read 21 of Rising Dragon Acquisition Corp.'s SEC filings and found 17 convertibles and 1 S-1 registration on file for RDAC. The latest dilution event on file is a convertible issuance on Oct 15, 2026. Analysis updated Nov 3, 2026.
Signal8 Summary
RDAC
Going-concern SPAC, merger just collapsed
- Business
- WeakNo revenue, going-concern warning, $9K cash
- Stock risk
- HighMicrocap, shares +97% YoY, Nasdaq deficiency notice
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
- : 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.
- : 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.
- : 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.
- : 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.
