Increasing Dragon Acquisition Corp. (NASDAQ: RDAC) shares rose 33.20% to $13.84 in after-hours trading on Thursday after the business submitted a Type 8-K with the Securities and Exchange Commission
Have a look at the present cost of RDAC stock here.
An 8-K filing with the SEC reports product occasions that financiers need to learn about in between a business’s quarterly reports.
Month-to-month Extension Charge Reduced
The China-based business modified its Financial investment Management Trust Contract recently, according to a filing with the Securities and Exchange Commission dated Thursday.
Under the change, the month-to-month extension payment was cut from $189,750, or $0.033 per share, to the lower of $100,000 a month or $0.033 for each staying public share after redemptions.
After investor redemptions, the modified month-to-month extension charge amounts to $2,703.69 for each one-month extension.
Redemptions and Extension
An overall of 1.54 million regular shares hurt for redemption in connection with the conference.
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An aggregate of 5.66 million regular shares hurt for redemption in connection with the amazing basic conference hung on Nov. 20 to authorize business mix and the extension conference.
The change allows as much as 6 extra one-month extensions beyond the preliminary duration, offering the business as much as 21 months in overall to finish an organization mix.
Increasing Dragon Acquisition Corp., an unique function acquisition business (SPAC), is pursuing an organization mix with HZJL Cayman Limited, a detailed option supplier. Investors authorized the offer at the amazing basic conference last month.
Trading Metrics
The stock’s Relative Strength Index (RSI) stands at 50.97.
RDAC has a 12-month efficiency of 3.80%. This modest gain shows a longer-term pattern that has actually been fairly steady, however the current volatility recommends that traders need to be gotten ready for possible swings.
Increasing Dragon Acquisition has a market capitalization of $83.24 million. The stock’s yearly trading variety covers from a low of $7.50 to a high of $16.43.
RDAC is trading at 32.36% of its 52-week variety, suggesting it is better to its lows than its highs. This positioning recommends the stock might have space to move higher, though financiers need to beware of possible pullbacks if momentum fails.
Cost Action: The stock closed routine trading at $10.39, up 17.16%, according to Benzinga Pro information.
Benzinga’s Edge Stock Rankings shows RDAC stock has an unfavorable cost pattern throughout perpetuity frames. Track the efficiency of other gamers in this section.
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Disclaimer: This material was partly produced with the aid of AI tools and was evaluated and released by Benzinga editors.