RF Acquisition Corp. Stock Skyrockets Following Key SEC Filings

Shares of RF Acquisition Corp II (NASDAQ:RFAI) are surging Friday morning following Thursday SEC filings detailing the results of an extraordinary general meeting.

• RF Acquisition Corp shares are testing new highs. Why are RFAI shares at highs?

Merger Approval Clears Path for Nasdaq Listing

At the August 19 meeting, shareholders overwhelmingly approved the proposed business combination with Singapore-based, AI-driven drug discovery firm Nanyang Biologics Pte. Ltd.

Out of 7,206,188 shares represented, 6,765,584 votes were cast in favor of the merger, which will see the combined entity operate under NYB Holdings Limited.

Governance Updates and Preliminary Redemptions

Investors also passed all related proposals, including the adoption of an equity incentive plan, new governance provisions, and the issuance of shares to meet Nasdaq listing rules. Additionally, RF Acquisition Corp II disclosed that holders submitted preliminary requests to redeem 3,956,323 ordinary shares for cash.

These requests remain subject to withdrawal prior to closing, with final redemption figures to be announced upon completion of the deal.

RFAI Shares Skyrocket Friday Morning

RFAI Price Action: RF Acquisition Corp shares were up 260.25% at $45.86 during premarket trading on Friday. The stock is trading at a new 52-week high, according to Benzinga Pro data.

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