RDACR
Rising Dragon Acquisition Corp. Rights
stock NASDAQ Right

>What am I missing?
RDAC common shares do *NOT* have NAV protection; *unless* their business combination with HZJL Cayman Limited is terminated, *OR* it takes longer than July 15, 2026 to close.
RDAC [shareholders already approved the business combination](https://www.reddit.com/r/Spacstocks/comments/1p8zjon/rising_dragon_acquisition_corporation/). RDAC shareholders also [approved an extension from January 15, 2026 to July 15, 2026](https://www.reddit.com/r/Spacstocks/comments/1p8zl5b/rising_dragon_acquisition_corporation_schedules/).
If RDAC closes the previously approved business combination before July 15, then there will be no further business combination or extension shareholder votes. The only time SPAC common shareholders can submit shares for redemption is when the SPAC holds extension or business combination votes. If there is no guarantee shares can eventually be redeemed for NAV value, then they are not NAV protected,
RDAC could close the business combination tomorrow, and the new ticker XPD could begin trading Thursday at $5 per share. Probably won't, but it is possible. That is why RDAC is selling for less than NAV today.
RDACR are 1:10 ratio rights; every ten RDACR will become one XPD if/when the business combination closes.
RDACR have been trading around 20 to 25 cents each the past couple of weeks. That equates to XPD trading for $2 to $2.50 if/when the business combination closes.

Rising Dragon Acquisition Corporation Shareholders Approve Extension from July 15, 2026 to October 15, 2027 - RDAC RDACR