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SPAC · Deal announced · RDAC

Rising Dragon Acquisition Corp.

Business combination with HZJL Cayman Limited

Rising Dragon Acquisition Corp. (RDAC) is a blank-check company (SPAC) that raised $50M in its initial public offering on Oct 11, 2024. It agreed to combine with HZJL Cayman Limited, announced on Jan 27, 2025, at a stated value of $350M. The deal has not closed yet. Lucid led the IPO, with Aurora Beacon. Loeb & Loeb advised the SPAC and Blank Rome advised the underwriters on the IPO.

HZJL Cayman Limited is a solution provider that gives local businesses branding, software and supply chain services. It helps small and medium-sized enterprises use social platforms and online applications to build their brands, engage new customers and improve efficiency.

Status
Deal announced
Ticker
RDAC
IPO date
Oct 11, 2024
IPO size
$50M
Target
HZJL Cayman Limited
Target sector
Other
Announced
Jan 27, 2025
Stated deal value
$350M
Combined company
Xpand Boom Technology Inc. (Purchaser)
IPO underwriters
Lucid and Aurora Beacon
SPAC counsel (IPO)
Loeb & Loeb and Maples and Calder
Underwriters' counsel (IPO)
Blank Rome

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