Rising Dragon Acquisition Corp. 8-K

What Happened

• Rising Dragon Acquisition Corp. filed an 8-K on March 27, 2026 disclosing that it issued four unsecured promissory notes (two on Feb 5, 2026 and two on Mar 15, 2026) with a principal of $50,000 each, for an aggregate $200,000. One note on each date was issued to Aurora Beacon LLC (the sponsor) and one to SZG Limited (designee of HZJL Cayman Limited). The notes bear no interest, mature upon closing of the company’s initial business combination, and the proceeds were deposited into the company’s trust account to support extending the business combination completion window until April 15, 2026. Each note is convertible by the holder into units identical to the IPO units at $10.00 per unit.

Key Details

• Total principal issued: $200,000 (four notes of $50,000 each).
• Issue dates: February 5, 2026 and March 15, 2026.
• Holders: Aurora Beacon LLC (sponsor) and SZG Limited (designee of HZJL Cayman Limited).
• Terms: unsecured, non‑interest bearing, mature at closing of the initial business combination; convertible into units at $10.00 per unit.
• Purpose: proceeds deposited into trust account to extend business combination deadline to April 15, 2026.

Why It Matters

• This is a short‑term cash infusion to help the SPAC meet its timeline for completing a proposed business combination. Because the notes are convertible into IPO‑style units at $10 each, conversion would increase outstanding units and could dilute public shareholders. The notes are unsecured and carry no interest, so they are a relatively low‑cost way for the sponsor and counterparty to support the deal timeline. Investors should note the April 15, 2026 deadline and that these transactions were disclosed in the company’s March 27, 2026 Form 8‑K.