Ribbon Acquisition Corp allows separate trading of its IPO units' shares and rights, effective March 7, 2025.
Quiver AI Summary
Ribbon Acquisition Corp announced that holders of its initial public offering units can now separately trade the ordinary shares and rights included in those units, a process that began on March 7, 2025. The units will continue to trade under the symbol "RIBBU," while the separated ordinary shares and rights will trade as "RIBB" and "RIBBR," respectively. Unitholders must contact the Company’s transfer agent, Odyssey Trust Company, to complete the separation. Ribbon Acquisition Corp focuses on business combinations and is led by CEO Angshuman (Bubai) Ghosh and CFO Zhiyang (Anna) Zhou. The press release also includes forward-looking statements regarding the trading of these securities and the company's future business combinations, which are subject to various risks and uncertainties.
Potential Positives
- Holders of 5,000,000 units can now separately trade their ordinary shares and rights, providing enhanced liquidity for investors.
- The commencement of trading under new symbols “RIBB” and “RIBBR” can attract more investor interest and potentially increase trading volume.
- The ability for unitholders to contact a transfer agent to separate their units streamlines the process and adds convenience for investors.
Potential Negatives
- The press release focuses on procedural aspects of trading units rather than highlighting specific successes or strategic advancements, which may suggest a lack of substantive developments within the company.
- There are inherent risks associated with the forward-looking statements, as these are subject to numerous conditions beyond the company's control, which may undermine investor confidence.
- The company’s portrayal as a "blank check company" may raise concerns among investors regarding its ability to identify a viable business combination and generate returns.
FAQ
What is Ribbon Acquisition Corp?
Ribbon Acquisition Corp is a blank check company aiming for business combinations through mergers or acquisitions.
When did trading of separated shares and rights start?
Trading of separated ordinary shares and rights began on March 7, 2025.
What symbols will the separated shares and rights trade under?
The separated ordinary shares and rights are expected to trade under the symbols “RIBB” and “RIBBR,” respectively.
How can unitholders separate their units?
Unitholders must have their brokers contact Odyssey Trust Company to separate the units into ordinary shares and rights.
What are forward-looking statements in this release?
Forward-looking statements include predictions about the separation and trading of securities and business combination searches, subject to various conditions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
New York, New York, March 13, 2025 (GLOBE NEWSWIRE) -- Ribbon Acquisition Corp (NASDAQ: RIBBU) (the “Company”) announced that, holders of the 5,000,000 units sold in the Company’s initial public offering may elect to separately trade the ordinary shares and rights included in the units, with such trading having commenced on March 7, 2025. Any units not separated will continue to trade on the Nasdaq Capital Market (the “Nasdaq”) under the symbol “RIBBU,” and the separated ordinary shares and rights are expected to trade on the Nasdaq under the symbols “RIBB” and “RIBBR,” respectively. Unitholders will need to have their brokers contact Odyssey Trust Company, the Company’s transfer agent, in order to separate the units into ordinary shares and rights.
This press release shall not constitute an offer to sell or the 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 Ribbon Acquisition Corp
Ribbon Acquisition Corp is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.
The Company is led by Mr. Angshuman (Bubai) Ghosh, the Company’s Chief Executive Officer, and Ms. Zhiyang (Anna) Zhou, the Company’s Chief Financial Officer.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the separation and trading of the Company’s securities and search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
Ribbon Acquisition Corp
Anna Zhou
Chief Financial Officer
Email:
anna.zhou@ribbonacquisitioncorp.com
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
