RF Acquisition, a blank check company targeting businesses within the Southeast Asian new economy sector, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
The company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock, one right to receive one-tenth of a share upon the completion of an initial business combination, and one-half of a warrant, exercisable at $11.50. At the proposed deal size, RF Acquisition would command a market value of $127 million.
RF Acquisition is led by CEO and Director Tse Ng, the co-founder and CEO of Ruifeng Wealth Management, and CFO, COO, and Director Han Lim, a former SVP in the Risk & Performance Management Department at Singaporean sovereign wealth fund GIC. The company plans to leverage management's experience and target businesses with operations or prospects in the Southeast Asian new economy sector or elsewhere, excluding China, Hong Kong, and Macau.
The Singapore-based company was founded in 2021 and plans to list on the Nasdaq under the symbol RFACU. EarlyBirdCapital is the sole bookrunner on the deal.
