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RF Acquisition Corp II Right (RFAIR0.00%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial position, including total assets of $120,078,338, primarily held in a trust account amounting to $119,093,931.
The company reported a net income of $3,157,131 for the period from February 5, 2024 (inception) through December 31, 2024, mainly due to interest earned on the trust account.
Operating and formation costs for the period amounted to $361,800, with no revenue generated as the company has not commenced operations.
RF Acquisition Corp II Right completed its initial public offering on May 21, 2024, raising gross proceeds of $115,575,000, including the exercise of the underwriters' overallotment option.
The company is focused on completing a business combination within 18 months of the IPO, with a target in the deep technology sector in Asia, excluding businesses with China operations consolidated through a VIE structure.
The filing also highlights potential risks, including the company's dependence on completing a business combination to avoid liquidation and the challenges associated with identifying and acquiring a suitable target.
RF Acquisition Corp II Right's management team is led by CEO and Chairman Tse Meng Ng, with a board of directors comprising individuals with diverse expertise in finance and technology.
The company's financial statements were audited by MaloneBailey, LLP, which issued an unqualified opinion on the financial statements.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the RF Acquisition Corp II Right annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.