Ribbon Acquisition Corp. entered into a Forward Purchase Agreement, Subscription Agreement, Standby Equity Purchase Agreement (SEPA), and Convertible Promissory Note with Meteora Select Trading Opportunities Master, LP in connection with its business combination with DRC Medicine Ltd. The Investor agreed to purchase up to 4,100,000 shares at the redemption price, funded by a $1,212,121 pre-paid advance secured by a convertible note bearing no interest but subject to an 18% default rate and a 7% payment premium. The SEPA provides a $100 million equity commitment with a 1.75% ($1,750,000) fee payable in cash or shares. Additionally, shareholders deposited 9.9% of post-combination common stock into escrow to secure the note obligations. Ribbon Acquisition Corp. is a blank check company formed for effecting a merger, capital stock exchange, asset acquisition, or other business combination with an operating business.

Ribbon Acquisition Corp. deposited $125,000 into its trust account to extend the deadline for its initial business combination by one month, from June 15, 2026, to July 15, 2026. Additionally, the company regained compliance with Nasdaq Listing Rule 5250(f) after paying its past due fee balance. Ribbon Acquisition Corp. is a special purpose acquisition company (SPAC) focused on identifying and completing a business combination.

Ribbon Acquisition Corp. deposited $125,000 into its trust account to extend the deadline for completing its initial business combination by one month, moving the deadline from May 15, 2026, to June 15, 2026. Ribbon Acquisition Corp. is a special purpose acquisition company (SPAC) that seeks to identify and consummate a business combination.