Rising Dragon Acquisition Corp. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 12, 2026, reporting net income of $79,239 for the three-month period and total assets of $18,727,285.

Key Highlights

  • Trust Account balance: Investments held in the Trust Account stood at $18,699,556 as of September 30, 2026, down from $44,388,583 at December 31, 2025.
  • Shares redeemed: Ordinary shares subject to possible redemption decreased to 1,685,982 shares at a redemption value of $11.09 per share, from 4,201,655 shares at $10.56 as of December 31, 2025.
  • Net income: The company reported net income of $79,239 for the three months ended September 30, 2026, compared to $452,318 in the same period of 2025.
  • Nine-month net income: Net income for the nine months ended September 30, 2026 was $375,859, versus $1,305,166 for the same period in 2025.
  • Shareholders' deficit: Total shareholders' deficit widened to $(3,444,852) as of September 30, 2026, from $(2,250,855) at December 31, 2025.
  • Related-party borrowings: Promissory notes owed to related parties totaled $822,550 as of September 30, 2026, up from $100,000 at December 31, 2025.
  • Shares outstanding: As of November 11, 2026, the company reported 3,435,357 ordinary shares issued and outstanding.

Rising Dragon's Trust Drawdown and Financial Position for Q3 2026

According to the filing, Rising Dragon Acquisition Corp. (NASDAQ:RDAC) is a blank check company incorporated in the Cayman Islands, with its principal executive offices located in Taiyuan City, Shanxi Province, People's Republic of China. The registrant confirmed it is classified as a shell company, a smaller reporting company, and an emerging growth company. The 10-Q covers the quarterly period ended September 30, 2026.

The filing disclosed that cash on hand fell sharply to $144 at September 30, 2026, from $37,174 at December 31, 2025. During the nine months ended September 30, 2026, the company withdrew $27,258,883 from the Trust Account in connection with share redemptions, and separately deposited $722,550 into the Trust Account. Net cash used in operating activities was $(589,502) for the nine-month period. Formation and operating costs for the nine months ended September 30, 2026 were $471,447, compared to $522,744 for the same period in 2025. Interest income earned in the Trust Account for the nine-month period was $847,306, down from $1,827,910 in the prior-year period.

The company reported that amounts due to a related party rose to $757,441 as of September 30, 2026, from $204,969 at December 31, 2025, and that advances from a related party of $552,472 were received during the nine-month period. The accumulated deficit increased to $(3,445,027) as of September 30, 2026, from $(2,251,030) at December 31, 2025. Deferred underwriting compensation remained unchanged at $1,868,750 across both balance sheet dates.

What Was Disclosed

Rising Dragon Acquisition Corp. filed its quarterly report for the period ended September 30, 2026, disclosing a significant reduction in Trust Account assets tied to share redemptions, widening shareholders' deficit, and increased related-party borrowings, alongside net income driven primarily by Trust Account interest income.