Rising Dragon Acquisition files post-IPO balance sheet: $57.8M trust, going concern risk

Rising Dragon Acquisition Corp.

IPO of 5.75M units at $10.00 closed Oct 15; gross proceeds $57.5M.
Private placement of 254,375 units to sponsor Aurora Beacon LLC raised $2.54M.
Total $57.79M deposited in trust; shares redeemable at $10.05 per share.
Auditor notes substantial doubt about going concern if no business combination within 15 months.
Transaction costs of $3.43M incurred; working capital of $657k.

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