RRAC redemption deadline
Rigel Resource Acquisition Corp. has finished as a SPAC — its trust was paid back to shareholders or used to close the deal. This page keeps the full dated record of how it got there.
The dates below are the record of a completed life, not a schedule to act on.
Nothing dated is ahead on file. That is an absence in the record, not a statement that nothing is coming.
The company's own long-stop: if no deal closes by this date it must extend again, or return the trust and shut down.
No cash-per-share figure was filed for a final window. The trust was settled either way.
The full timeline
7 dated milestonesEvery dated step from the day it listed to the next date you may have to act on, each with the filing that states it.
redemption rate not stated in the filing
Show the earlier 4 milestones
- 8 November 2021IPOpassed
IPO size not on file
redemption rate not stated in the filing
redemption rate not stated in the filing
Extension history
3 votes on fileEach time the company asked shareholders for more time. Every extension re-opens the exit: holders who want out can take their cash at the vote, which is why heavy extensions drain the trust.
Shareholders took cash at this vote (the filing does not state a pre-event share count), paid at $11.90 a share.
How extensions work — the sponsor deposits, the votes, and what each one costs holders — is covered in our plain-English guide to extension votes and deposits.
How the deadline mechanism works
The thirty-second version, for anyone who has never traded a SPAC.
A SPAC’s charter gives it a fixed time to buy a business. Before that time runs out it must either close a deal, ask shareholders to extend the date, or return the trust cash and shut down. At every vote, holders who would rather have their cash than wait can hand their shares back — that election is the deadline this page tracks.
The published date is not the one that matters in practice: your broker needs the instruction roughly two business days earlier, because brokers batch instructions to the transfer agent. Missing the broker cutoff forfeits the right even though the official deadline has not yet arrived — broker cutoffs vs official deadlines, explained.
In plain English
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.