Rainier Acquisition prices $75M IPO on Nasdaq

Rainier Acquisition Corporation priced its initial public offering of 7,500,000 units at $10.00 per unit, targeting gross proceeds of $75,000,000 before underwriting discounts and offering expenses, according to a press release statement.

Each unit consists of one Class A ordinary share and one-quarter of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share at $11.50 per share. No fractional warrants will be issued upon separation of the units.

The units are expected to begin trading on the Nasdaq Capital Market under the ticker symbol "RNAQU" on Aug. 27, 2026, with the offering expected to close Aug. 28, 2026. Once the securities begin separate trading, the Class A ordinary shares and warrants are expected to trade under the symbols NASDAQ: RNAQ and NASDAQ: RNAQW, respectively.

The company is a special purpose acquisition company, or SPAC, focused on identifying a business combination target primarily within global life sciences industries, including therapeutics, diagnostics, genomics, precision medicine, and biomanufacturing, though its search is not limited to any specific industry or region.

The management team is led by Gbola Amusa, MD, CFA, as Chief Executive Officer, and Guy Barudin as Chief Financial Officer.

Chardan is acting as the sole book-running manager for the offering. The company has granted the underwriter a 45-day option to purchase up to an additional 1,125,000 units at the IPO price to cover any over-allotments.

The SEC declared the related registration statement effective on Aug. 26, 2026.

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