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  4. Range Capital Acquisition Corp. Announces Full Exercise of Underwriters’ Over-Allotment Option in Connection with its Initial Public Offering

Range Capital Acquisition Corp. Announces Full Exercise of Underwriters’ Over-Allotment Option in Connection with its Initial Public Offering

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Range Capital Acquisition Corp. announced the full exercise of underwriters' over-allotment option for its initial public offering (IPO), resulting in an additional 1,500,000 units issued at $10.00 per unit. The total offering now comprises 11,500,000 units with an aggregate value of $115,000,000.

Each unit contains one ordinary share and one right to receive one-tenth of an ordinary share upon completing an initial business combination. The securities will be listed on the Nasdaq Global Market under symbols 'RANG' (ordinary shares) and 'RANGR' (rights). EarlyBirdCapital, Inc. served as the sole book-running manager for the offering.

Range Capital Acquisition Corp. ha annunciato l'esercizio completo dell'opzione di sovrallocazione da parte dei sottoscrittori per la sua offerta pubblica iniziale (IPO), il che ha portato all'emissione di ulteriori 1.500.000 unità a 10,00 $ per unità. L'offerta totale ora comprende 11.500.000 unità con un valore aggregato di 115.000.000 $.

Ogni unità contiene un'azione ordinaria e un diritto di ricevere un decimo di un'azione ordinaria al completamento di una combinazione aziendale iniziale. I valori mobiliari saranno quotati sul Nasdaq Global Market con i simboli 'RANG' (azioni ordinarie) e 'RANGR' (diritti). EarlyBirdCapital, Inc. ha svolto il ruolo di manager unico per la gestione dell'offerta.

Range Capital Acquisition Corp. anunció el ejercicio completo de la opción de sobreasignación de los suscriptores para su oferta pública inicial (IPO), lo que resultó en la emisión adicional de 1.500.000 unidades a 10,00 $ por unidad. La oferta total ahora comprende 11.500.000 unidades con un valor agregado de 115.000.000 $.

Cada unidad contiene una acción ordinaria y un derecho a recibir un décimo de una acción ordinaria al completar una combinación comercial inicial. Los valores se listarán en el Nasdaq Global Market bajo los símbolos 'RANG' (acciones ordinarias) y 'RANGR' (derechos). EarlyBirdCapital, Inc. actuó como el único administrador de la oferta.

Range Capital Acquisition Corp.는 초기 공모(IPO)ì—ì„œ ì£¼ê´€ì‚¬ë“¤ì˜ ì´ˆê³¼ 할당 ì˜µì…˜ì„ ì™„ì „ížˆ 행사했다고 발표하였으며, ì´ë¡œ ì¸í•´ 추가로 1,500,000 ìœ ë‹›ì´ 10.00 달러 장당 발행ë˜ì—ˆìŠµë‹ˆë‹¤. ì´ ì œê³µëŸ‰ì€ ì´ì œ 11,500,000 유닛으로 115,000,000 ë‹¬ëŸ¬ì˜ ì´ ê°€ì¹˜ë¥¼ í¬í•¨í•©ë‹ˆë‹¤.

ê° ìœ ë‹›ì€ í•˜ë‚˜ì˜ ë³´í†µì£¼ì™€ 초기 사업 ê²°í•©ì´ ì™„ë£Œë  ë•Œ ë³´í†µì£¼ì˜ 10ë¶„ì˜ 1ì„ ë°›ì„ ê¶Œë¦¬ë¥¼ í¬í•¨í•˜ê³  있습니다. ì´ ì¦ê¶Œì€ Nasdaq Global Marketì—ì„œ 'RANG' (보통주)와 'RANGR' (권리) 기호로 ìƒìž¥ë©ë‹ˆë‹¤. EarlyBirdCapital, Inc.는 ì´ë²ˆ ì œê³µì˜ ë‹¨ë… ë¶ëŸ°ë‹ 매니저로 활ë™í–ˆìŠµë‹ˆë‹¤.

Range Capital Acquisition Corp. a annoncé l'exercice intégral de l'option de surallocation des souscripteurs pour son introduction en bourse (IPO), entraînant l'émission de 1.500.000 unités supplémentaires à 10,00 $ par unité. L'offre totale comprend désormais 11.500.000 unités d'une valeur agrégée de 115.000.000 $.

Chaque unité contient une action ordinaire et un droit de recevoir un dixième d'une action ordinaire lors de l'achèvement d'une première combinaison d'affaires. Les valeurs mobilières seront cotées sur le Nasdaq Global Market sous les symboles 'RANG' (actions ordinaires) et 'RANGR' (droits). EarlyBirdCapital, Inc. a été le gestionnaire unique de l'offre.

Range Capital Acquisition Corp. gab bekannt, dass die Über-Zuteilungsoption der Underwriter für ihr öffentliches Angebot (IPO) vollständig ausgeübt wurde, was zur Ausgabe von zusätzlichen 1.500.000 Einheiten zu 10,00 $ pro Einheit führte. Das Gesamtangebot umfasst nun 11.500.000 Einheiten mit einem aggregierten Wert von 115.000.000 $.

Jede Einheit enthält eine Stammaktie und ein Recht auf den Erhalt eines Zehntels einer Stammaktie nach Abschluss einer ersten Unternehmensfusion. Die Wertpapiere werden an der Nasdaq Global Market unter den Symbolen 'RANG' (Stammaktien) und 'RANGR' (Rechte) notiert. EarlyBirdCapital, Inc. fungierte als alleiniger Buchmanagement-Manager für das Angebot.

Positive
  • Successful completion of IPO with full exercise of over-allotment option
  • Raised $115 million in total proceeds
  • Secured Nasdaq Global Market listing
Negative
  • Potential shareholder dilution due to rights conversion feature

Insights

The successful exercise of the over-allotment option in Range Capital Acquisition Corp's IPO demonstrates strong market demand for SPAC offerings. The additional $15 million raised through the greenshoe option brings the total IPO proceeds to $115 million, providing more capital for potential business combinations.

The unit structure, combining one ordinary share with one right for a tenth of an additional share post-merger, offers investors an attractive upside potential while maintaining standard SPAC features. The listing on Nasdaq Global Market under symbols RANG and RANGR will provide liquidity for investors. EarlyBirdCapital's role as sole book-runner suggests a focused distribution strategy targeting institutional investors.

For retail investors: Think of a SPAC as a pool of money looking to buy a private company and take it public. The $10 unit price is standard and the additional right to receive 0.1 shares post-merger acts like a bonus feature that could increase your returns if a successful business combination occurs.

The full exercise of the over-allotment option is particularly noteworthy given the current SPAC market conditions. While the $115 million raise is relatively modest compared to peak SPAC sizes seen in 2021-2022, it indicates there's still selective appetite for quality SPAC sponsors and structures.

The inclusion of rights instead of traditional warrants in the unit structure represents a more shareholder-friendly approach, potentially reducing future dilution compared to warrant-heavy SPAC structures. This could make the vehicle more attractive for potential merger targets concerned about post-combination share overhang.

In simple terms: Imagine buying a ticket (unit) that gives you both a seat at the table (share) and a small bonus (right to 0.1 additional shares) if the SPAC successfully finds and merges with a target company. The full exercise of the over-allotment suggests investors like this particular setup.

COLD SPRING HARBOR, N.Y.--(BUSINESS WIRE)-- Range Capital Acquisition Corp. (the “Companyâ€) announced today that the underwriters of its previously announced initial public offering of units have fully exercised their over-allotment option, resulting in the issuance of an additional 1,500,000 units at a public offering price of $10.00 per unit. After giving effect to the exercise of the option, an aggregate of 11,500,000 units have been issued in the initial public offering at an aggregate offering price of $115,000,000.

Each unit consists of one ordinary share and one right entitling the holder thereof to receive one-tenth of one ordinary share upon the completion of an initial business combination. Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on the Nasdaq Global Market under the symbols “RANG†and “RANGR,†respectively.

EarlyBirdCapital, Inc. served as the sole book-running manager of the offering.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission (the “SECâ€) on December 19, 2024. The offering was being made only by means of a prospectus, copies of which may be obtained by contacting EarlyBirdCapital, Inc. at 366 Madison Avenue, 8th Floor, New York, New York 10017, Attention: Syndicate Department, by telephone at 212-661-0200.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Range Capital Acquisition Corp.

Range Capital Acquisition Corp. is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, or reorganization or engaging in any other similar business combination with one or more businesses or entities. The Company is led by Chairman, Chief Executive Officer and Chief Financial Officer Timothy Rotolo. The Company’s team brings substantial expertise in deal sourcing, investing, and operations. The Company may pursue a business combination with a target in any industry or geographic region that it believes can benefit from the expertise and capabilities of its management team.

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including with respect to the anticipated use of the proceeds of the Company’s initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in the risk factors section of the registration statement and prospectus for the Company’s initial public offering. Copies of these documents can be accessed through the SEC’s website at . No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.

Media Contact:

Range Capital Acquisition Corp.

tjr@lloydharborcapital.com

631-246-0340

Source: Range Capital Acquisition Corp.

FAQ

How much did Range Capital Acquisition Corp (RANG) raise in its IPO including over-allotment?

Range Capital Acquisition Corp raised a total of $115,000,000 through the issuance of 11,500,000 units at $10.00 per unit, including the full exercise of the over-allotment option of 1,500,000 units.

What are the trading symbols for Range Capital Acquisition Corp's securities on Nasdaq?

The ordinary shares will trade under the symbol 'RANG' and the rights will trade under the symbol 'RANGR' on the Nasdaq Global Market.

What does each RANG IPO unit consist of?

Each unit consists of one ordinary share and one right that entitles the holder to receive one-tenth of one ordinary share upon the completion of an initial business combination.

When was Range Capital Acquisition Corp's registration statement declared effective by the SEC?

The SEC declared Range Capital Acquisition Corp's registration statement effective on December 19, 2024.

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