Regular close
$58.00
4:00:01 p.m. EDT
RFAI Stock Jumps 356% as Nanyang Vote Leaves Trust Cash Uncertain
RF Acquisition Corp II jumped 355.6% on Friday after shareholders approved its proposed combination with Nanyang Biologics. The shares closed at $58.00 after trading between $35.22 and $73.00. Volume reached 2.85 million shares.
RF Acquisition Corp II · NASDAQ:RFAI
Deal vote passed. Float math takes over.
The $1.5 billion Nanyang Biologics headline now sits beside preliminary redemptions that could absorb almost all of the latest reported trust balance.
Market closed · Aug. 21, 2026
Friday move
+355.6%
Previous close: $12.73
Weekly move
+524.3%
Monday close: $9.29
After-hours
$48.00
-17.2% at 5:17:38 p.m. EDT
Five-session price reset
Daily closeFriday high $73.00Friday volume 2.85m
Preliminary redemption bridge
Trust after Aug. 12$44.52m
New requests3.956m
At prior ≈$11.13 rate-$44.03m
Implied balance≈$0.49m
Scenario only. Requests may be withdrawn or reversed, and the final redemption rate, cash and float are not yet known.
What matters next
- 1Final redemptions. The company plans to disclose the count after closing.
- 2Closing conditions. Shareholder approval is in hand; the transaction still may not close.
- 3Post-close float. A small float can amplify both rallies and reversals.
- 4Financing and dilution. Trust depletion could increase reliance on new capital.
Expected new ticker: NYBDeal value: ≈$1.5bn pre-transactionVote support: 93.9%
Risk monitor
- Liquidity: preliminary requests equal 98.95% of shares outstanding after the August 12 redemption.
- Balance sheet: $10,191 outside-trust cash and a $1.28m working-capital deficit at June 30.
- Coverage: one compiled Sell rating and no published target; little external valuation anchor.
- Biotech: clinical, regulatory and commercialization outcomes remain uncertain.
TechStock² Updates
![Australia Stock Market Today 08.22.2026 [UPDATE: 08.22.2026 08:37 AEST] [Weekly Recap and Week Ahead: Healthcare Leads, CPI Looms]](https://ts2.tech/wp-content/uploads/2026/08/AU-market-dashboard-2026-08-22-0837-480x384.jpg "Australia Stock Market Today 08.22.2026 [UPDATE: 08.22.2026 08:37 AEST] [Weekly Recap and Week Ahead: Healthcare Leads, CPI Looms]")
