Ribbon Acquisition Corp completes $50M IPO and $2.2M private placement, deposits $50M in trust

Ribbon Acquisition Corp.

IPO of 5,000,000 units at $10.00/unit raised $50,000,000 gross; includes one Class A share and one right.
Simultaneous private placement of 220,000 units to Sponsor raised $2,200,000.
Total $50,000,000 deposited in Trust Account held by Odyssey Trust; no over-allotment exercised as of Jan 16, 2025.
Audited balance sheet shows $710,916 cash outside trust, $2,209,438 total liabilities, $4,629,164 shareholders' equity.
Company has 12 months (until Jan 16, 2026) to complete initial business combination or face mandatory liquidation; going concern uncertainty noted.

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