Ribbon Acquisition Corp. to combine with DRC Medicine in $350M equity value SPAC merger

Ribbon Acquisition Corp.

DRC Medicine designs AI-powered allergy and infection diagnostic kits and protective face masks.
Equity value set at $350M; consideration determined by dividing $350M by redemption price per share.
Post-closing board: Sponsor appoints 1 director, DRC appoints 4 directors (3 independent).
Lock-up of 6 months from closing for certain shareholders and Sponsor.
Closing requires SPAC shareholder approval, SEC registration statement effectiveness, and Nasdaq listing.

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