Rf Acquisition Corp Unit (NASDAQ:RFACU) today announced the pricing of its initial public offering of 10,000,000 units at a price of $10.00 per unit. The units will be listed on the Nasdaq Global Market (Nasdaq) and trade under the ticker symbol RFACU beginning on March 24, 2022. Each unit consists of one share of Class A common stock, par value $0.0001 per share, of the Company (common stock), one redeemable warrant (with each warrant entitling the holder thereof to purchase one share of common stock at a price of $11.50 per share), and one right to receive one-tenth of one share of common stock. After the securities comprising the units begin separate trading, the shares of common stock, the redeemable warrants, and rights are expected to be listed on Nasdaq under the symbols RFAC, "RFACW" and RFACR, respectively. The offering is expected to close on March 28, 2022, subject to customary closing conditions.
RF Acquisition Corp. is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.
RF Acquisition Corp. is led by Tse Meng Ng, the Company's Chief Executive Officer and Chairman of the board of directors, and Han Hsiung Lim, the Company's Chief Financial Officer. The Company's independent directors include Benjamin Waisbren, Simon Eng Hock Ong, and Vincent Hui Yang. The Company's advisors include Chandra Tjan and Stephen Lee.
EarlyBirdCapital, Inc. the representative of the underwriters, is acting as sole bookrunning manager of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 units at the initial public offering price to cover over-allotments, if any.