Nanyang Biologics Signs Business Combination Deal With RF Acquisition

RF Acquisition Corporation II Registered Shs

10.70 USD -0.28%

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(RTTNews) - Nanyang Biologics Pte. Ltd., Thursday announced an agreement with RF Acquisition Corp II (RFAI) to convert the former into a publicly listed company.

The combined company, to be led by Roland Ong, Chairman of NYB and Professor Li Hoi Yeung, Lead Principal Investigator of the joint laboratory, is expected to be listed on Nasdaq under the reserved ticker symbol "NYB."

The proposed deal gives Nanyang approximately $1.5 billion in pre-transaction equity value. Moreover, Nanyang's shareholders will roll over 100 percent of the equity and retain a majority of the combined company's outstanding shares.

The deal is expected to close in the first or second quarter of 2026.

In the pre-market hours, RFAI is moving up 3 percent, to $10.98 on the Nasdaq.