RF Acquisition Corp II shares surge 260% after merger approval

RF Acquisition Corp II shares surged 260.25% to $45.86 in Friday premarket trading after an SEC filing detailed shareholder approval of its business combination with Singapore-based, AI-driven drug-discovery firm Nanyang Biologics Pte. Ltd. At the Aug. 19 extraordinary general meeting, 6,765,584 of the 7,206,188 shares represented voted in favor. The combined entity is expected to operate under NYB Holdings Limited, subject to closing. Shareholders also approved related governance measures, an equity incentive plan and the issuance of shares needed to satisfy Nasdaq listing requirements. Holders submitted preliminary requests to redeem 3,956,323 ordinary shares for cash, although those requests can be withdrawn before closing and final redemptions will be disclosed when the transaction is completed. The latest move set a new 52-week high, while earlier coverage had reported a separate rise of 473.45% to $73 after Thursday’s session.

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