Rising Dragon Acquisition Corp. (the “Company”) filed a Current Report on Form 8-K dated October 13, 2026, disclosing the issuance of unsecured promissory notes to SZG Limited. The notes were issued on two separate dates in August and September 2026 to extend the time available for the Company to consummate its initial business combination.
The Company issued the first note, referred to as the “August Note,” on August 15, 2026, in the principal amount of $55,637.41. On September 15, 2026, the Company issued a second note, referred to as the “September Note,” also for $55,637.41. Together, the two notes total $111,274.82. The notes do not bear interest and are payable on the date the Company consummates its initial business combination.
The filing indicates that the proceeds from these notes have been deposited into the Company’s trust account. This deposit was made in connection with an extension of the deadline to consummate the initial business combination until October 15, 2026. The notes were issued pursuant to a previously announced agreement and plan of merger dated January 27, 2025, involving HZJL Cayman Limited, the Company, Purchaser, and Merger Sub.
According to the filing, the holder of the notes, SZG Limited, may elect to convert the Notes, in whole or in part, into private units of the Company. This conversion election must be made at least five business days prior to the closing of the business combination, at a price of $10.00 per unit. The full text of the notes is included as Exhibits 10.1 and 10.2 to the filing.
