Cash Position
The company has -3.5 months of cash left based on the quarterly cash burn of $373.07 k and estimated current cash of $-445.63 k
Commentary on Financial Condition
RF Acquisition Corp. is a blank check company focused on completing a business combination by March 28, 2025, but faces substantial doubt about its ability to continue as a going concern if it fails to do so. The company has a working capital deficit and relies on funds from its trust account and potential loans from its sponsor to cover transaction costs. If a business combination is not consummated by the deadline, the company will face mandatory liquidation and dissolution., Filed At: 2025-02-13
Former Symbols
Nasdaq Compliance
Date
Deficiency
Market
Status
Notes
Previous Splits
Date
Split
Convertibles
Title | Registered | Shares Remaining | Cv Price | $ Amt Remaining | Total $ Amt | Owners | Bank | Price Protection | Details | Convertible Date | Maturity Date | Filed Date | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
February 2025 - Convertible Notes issued to accredited investors | Not Registered | 7,338,889 | $4.50 | $33,025,000.00 | $33,025,000.00 | Transaction Investors | na | Notes will automatically convert into PubCo shares at the closing of the Business Combination | - | - | Feb 5, 2025 | ||
October 2024 - - Convertible Note Purchase Agreement | Not Registered | 2,002,500 | $10.00 | $20,025,000.00 | $20,025,000.00 | Transaction Investors | - | Mar 28, 2025 | Oct 18, 2024 |