RF Acquisition Corp Shares Explode 473.45% After-Hours on Nanyang Biologics Deal - RF Acquisition Corp (N

RF Acquisition Corp II (NASDAQ:RFAI) shares are trending Thursday night.

Stock Explodes On Business Combination News

Shares of the Singapore-based blank check company exploded 473.45% to $73.00 after the bell Thursday after RFAI shareholders approved the company’s business combination with Singapore-based biotech Nanyang Biologics Pte. Ltd.

In a Thursday Securities and Exchange Commission filing, RF Acquisition Corp disclosed that it held an extraordinary general meeting of shareholders on Wednesday. The business combination was among six proposals approved by shareholders.

Alongside the business combination, shareholders also approved separate proposals related to the merger. These included governance provisions, such as removing blank-check company provisions from the PubCo charter, as well as the Nasdaq share issuance and the company’s equity incentive plan, according to the filing.