---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-24-001510"
form_type: "8-K"
ticker: null
cik: "0001860879"
company_name: "Rigel Resource Acquisition Corp."
filed_at: "2024-03-11T23:59:59+00:00"
generated_at: "2026-06-05T00:05:54.132498+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Rigel (RRAC) announces $35.6M share biz combination with Blyvoor Gold; to list as Aurous on Nasdaq

## Summary
- Rigel SPAC to acquire Blyvoor Gold via merger; Target shareholders receive 35,600,000 Newco shares; Sellers get 6-month lock-up.
- PIPE investment of $7.5M (750,000 shares at $10) from institutional investors; sponsor forfeiture shares to PIPE.
- Earnout shares of up to 2,625,000 Newco shares based on gold production milestones (55k oz first, 95k oz second).
- Closing conditions: stockholder approval, SEC registration effective, Nasdaq listing, minimum $50M cash proceeds.
- Sponsor support agreement: sponsors vote for deal, lock-up 12-24 months on shares/warrants; deadline Aug 9, 2024.

## SEC filing metadata
- accession: 0001829126-24-001510
- form_type: 8-K
- cik: 0001860879
- company_name: Rigel Resource Acquisition Corp.
- filed_at: 2024-03-11T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1860879/000182912624001510/0001829126-24-001510-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1860879/000182912624001510/rigelresource_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-24-001510
- JSON: https://secwatch.observer/filing/0001829126-24-001510.json
- Plain text: https://secwatch.observer/filing/0001829126-24-001510.txt

## Key facts
- Material Agreements
  Rigel Resource Acquisition Corp. entered into Exchange Agreement with Newco, Blyvoor Gold Proprietary Limited, Orion Mine Finance Fund II L.P., and the Target Companies (effective 2024-03-11).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Newco, Blyvoor Gold Proprietary Limited, Orion Mine Finance Fund II L.P., and the Target Companies
  - Effective: 2024-03-11
  source text: Concurrently with the execution of the Business Combination Agreement, Newco also entered into an Exchange Agreement (the “ Exchange Agreement ”), by and among, Newco, Blyvoor Gold Proprietary Limited, a South African private limited liability company (“ Blyvoor Gold ”), Orion Mine Finance Fund II L.P., a Bermuda limited partnership (“ Orion ” and, together with Blyvoor Gold, the “ Sellers ”), and the Target Companies.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1860879/000182912624001510/0001829126-24-001510-index.htm
- Material Agreements
  Rigel Resource Acquisition Corp. entered into Business Combination Agreement with Rigel, Blyvoor Gold Resources Proprietary Limited, Blyvoor Gold Operations Proprietary Limited, RRAC NewCo, and RRAC Merger Sub (effective 2024-03-11).
  - Action: entry
  - Agreement: merger
  - Counterparty: Rigel, Blyvoor Gold Resources Proprietary Limited, Blyvoor Gold Operations Proprietary Limited, RRAC NewCo, and RRAC Merger Sub
  - Effective: 2024-03-11
  source text: On March 11, 2024, Rigel Resource Acquisition Corp, a Cayman Islands exempted company (“ Rigel ”), entered into a Business Combination Agreement (the “ Business Combination Agreement ”), by and among Rigel, Blyvoor Gold Resources Proprietary Limited, a South African private limited liability company (“ Blyvoor Resources ”), Blyvoor Gold Operations Proprietary Limited, a South African private limited liability company (“ Tailings ” and, together with Blyvoor Resources, the “ Target Companies ”, each a “ Target Company ”), RRAC NewCo, a Cayman Islands exempted company and wholly-owned subsidiary of Rigel (“ Newco ”), and RRAC Merger Sub, a Cayman Islands exempted company and wholly-owned subsidiary of Newco (“ Merger Sub ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1860879/000182912624001510/0001829126-24-001510-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.