RFAI
RF Acquisition Corp II10.74
+0.02+0.19%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
161.23MP/E (TTM)
63.18Basic EPS (TTM)
0.17Dividend Yield
0%Recent Filings
10-K
FY2025 results
RF Acquisition Corp II, a Cayman Islands blank check company, reported no operating revenues for FY2025 ended December 31, 2025, as all activities related to its formation and May 2024 IPO raising $115M into trust; net income reached $3.4M from trust interest, offset by $1.3M costs including $195K admin fees. Q4 saw heavy redemptions of 6.7M shares ($71.6M out) at November's extension vote, leaving $52M trust and 4.8M public shares outstanding, yet extensions funded to February 2026 via $120K deposits while pursuing Nanyang Biologics merger. No capex or debt; $337K cash outside trust covers ops. Sponsor holds 39% founder shares. Clock ticking.
8-K
SPAC extends deadline post-redemptions
RF Acquisition Corp II won shareholder approval on November 10, 2025, to amend its charter and trust agreement, extending the business combination deadline up to nine one-month periods to August 15, 2026, at $0.03 per unredeemed public share (max $60,000 monthly). But 6.7M shares redeemed, draining $71.6M from the trust, leaving $51.9M and 4.8M public shares outstanding. Clock reset, cash thinner.
10-Q
Q3 FY2025 results
RF Acquisition Corp II posted Q3 net income of $1.1M, down from $1.4M y/y yet propped by $1.3M trust interest offsetting $230K operating costs—up 155% y/y (derived). Nine-month net income hit $3.2M on $3.8M trust interest, while cash outside trust dipped to $562K from $959K at year-start. Signed October 2, 2025 Business Combination Agreement with Nanyang Biologics Pte. Ltd. via merger into PubCo and amalgamation, swapping shares 1:1 and rights for 1/20th PubCo share. Trust holds $122.9M at $10.68/share. Deadline looms November 15. Sponsor covers short-term needs. Trust intact.
8-K
RFAC II-Nanyang de-SPAC signed
RF Acquisition Corp II signed a Business Combination Agreement on October 2, 2025, to merge with PubCo and amalgamate with Nanyang Biologics Pte. Ltd., taking the biotech public via de-SPAC. Nanyang shareholders holding 75% of voting shares pledged support; all key parties locked up shares for 24 months. Deal awaits approvals, redemptions loom large.
10-Q
Q2 FY2025 results
RF Acquisition Corp II posted net income of $1.1M for Q2 2025 ended June 30, up from $0.5M in Q2 2024, driven by $1.3M in trust interest that outpaced $0.2M operating costs—yet the core loss from operations widened 66% y/y to $0.2M (derived). For the half-year, net income hit $2.1M on $2.5M trust interest against $0.4M costs, with diluted EPS steady at $0.14 across redeemable and non-redeemable shares, reconciling to 3.5M and 11.5M weighted shares. Cash outside trust dipped to $0.6M amid $0.3M operating outflows, while trust swelled to $121.6M on interest accretion; no debt burdens the balance sheet. No business combination yet, but trust yields keep the hunt funded. Geopolitical tensions shadow the merger chase.
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