RF Acquisition II today announced the closing of its initial public offering of 10 million units at $10 each.
The units listed on the Nasdaq and trade under the ticker symbol RFAIU. Each unit consists of a share and one right to receive one-twentieth of a share. After the securities begin separate trading, shares and rights are expected to list under the symbols RFAI and RFAIR.
The new SPAC said it will target the deep technology sector in Asia, including AI, quantum computing, and biotechnology.
CEO and Chairman Tse Meng Ng is co-founder and CEO of Ruifeng Wealth Management.
Sister SPAC RF Acquisition announced a $1.2 billion merger agreement with Singapore-based video game publisher GCL Asia in October.
EarlyBirdCapital is the sole bookrunner on the deal.
