Rising Dragon Acquisition Corp (RDAC) Stock Popped 33% After-Hours, Here Is Why The Blank Check Company's Shares Shot Up

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) shares surged 33.20% to $13.84 in after-hours trading on Thursday after the company filed a Form 8-K with the Securities and Exchange Commission.

Check out the current price of RDAC stock here.

An 8-K filing with the SEC reports material events that investors should know about between a company's quarterly reports.

Monthly Extension Fee Lowered

The China-based company amended its Investment Management Trust Agreement last week, according to a filing with the Securities and Exchange Commission dated Thursday.

Under the amendment, the monthly extension payment was cut from $189,750, or $0.033 per share, to the lesser of $100,000 a month or $0.033 for each remaining public share after redemptions.

After shareholder redemptions, the revised monthly extension fee totals $2,703.69 for each one-month extension.

Redemptions and Extension

A total of 1.54 million ...

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Rising Dragon Acquisition Corp (RDAC) Stock Popped 33% After-Hours, Here Is Why The Blank Check Company's Shares Shot Up

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