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Range Capital Acquisition Corp. (RANG+0.59%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the period from July 24, 2024 (inception) through September 30, 2024, showing a net loss of $27,788, which consisted of formation and operating costs.
As of September 30, 2024, Range Capital Acquisition Corp. reported total assets of $1,661,413, including cash of $23,679 and deferred offering costs of $1,637,734.
The company's liabilities totaled $125,801, with accrued offering costs of $98,013 and a related party promissory note of $20,720.
Shareholders' equity was reported at $1,535,612, with 4,100,000 ordinary shares issued and outstanding.
The company completed its Initial Public Offering on December 23, 2024, raising $100,000,000 through the sale of 10,000,000 units at $10.00 per unit.
Simultaneously, the company sold 400,000 private placement units at $10.00 per unit, generating an additional $4,000,000.
On January 3, 2025, the company closed on an over-allotment option, selling an additional 1,500,000 units and raising $15,000,000.
The company intends to use the proceeds from its Initial Public Offering and private placements to pursue a business combination.
The company's management has discretion over the application of the net proceeds, with the intention to complete a business combination with a target business.
Range Capital Acquisition Corp. has until 18 months from the closing of the Initial Public Offering to consummate a business combination.
The company is classified as an emerging growth company and is subject to certain exemptions from various reporting requirements.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Range Capital Acquisition Corp. quarterly 10-Q report dated January 24, 2025. To report an error, please email earnings@qz.com.