Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our equity securities trade on the Nasdaq Global Market. Each of our units consists of one ordinary share and one right and, commencing on October 3, 2025, trades on the Nasdaq Global Market under the symbol “RNGTU.” The ordinary shares and rights underlying our units began trading separately on the Nasdaq Global Market under the symbols “RNGT” and “RNGTW,” respectively, on January 13, 2025.
Holders of Record
On March 3, 2026, there were three holders of record of our units, one holder of record of our Class A ordinary shares, six holders of record of our Class B ordinary shares and one holder of record of our public warrants. Such numbers do not include beneficial owners holding our securities through nominee names.
Dividends
We have not paid any cash dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of our initial business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to completion of our initial business combination. The payment of any cash dividends subsequent to our initial business combination will be within the discretion of our board of directors at such time. In addition, our board of directors is not currently contemplating and does not anticipate declaring any share dividends in the foreseeable future. Further, if we incur any indebtedness in connection with our initial business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith.
Use of Proceeds from our Initial Public Offering
On October 6, 2025, we consummated the Initial Public Offering of 23,000,000 units, including 3,000,000 units issued pursuant to the underwriters’ exercise of over-allotment in full, at $10.00 per unit, generating gross proceeds of $230,000,000. Simultaneously with the closing of the Initial Public Offering, we consummated the sale of 660,000 private placement units at a price of $10.00 per unit in a private placement to the Sponsor and the Representative, generating gross proceeds of $6,600,000.
Following the closings of the Initial Public Offering and the over-allotment on October 6, 2025, an aggregate amount of $230,000,000 ($10.00 per unit) from the net proceeds of the sale of the public units, and a portion of the net proceeds from the sale of the private placement units, was placed in the Trust Account. Transaction costs amounted to $13,232,284, consisting of $4,600,000 of cash underwriting fee, $8,050,000 of deferred underwriting fee, and $582,284 of other offering costs.
For a description of the use of the proceeds generated in our Initial Public Offering, see Part II, Item 7 of this Annual Report.
ITEM 6. [RESERVED]
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