Business
The9's Singapore Investee NYB Announce Plan to Go Nasdaq via US$1.5 Billion Business Combination with SPAC RF Acquisition Corp II
NYB Partnered with Nvidia, HP and Equinix to Build the World's Largest Natural Compound Library for AI Drug Discovery SINGAPORE, Oct. 2, 2025 /PRNewswire/ --
About this update from Rf Acquisition Corp Ii
[{"type":"text","content":"NYB Partnered with Nvidia, HP and Equinix to Build the World's Largest Natural Compound Library for AI Drug Discovery \nSINGAPORE, Oct. 2, 2025 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) today announced that its Singapore investee company Nanyang Biologics Pte. Ltd. (\"NYB\"), together with its subsidiaries and affiliates, entered into a business combination agreement with RF Acquisition Corp II (\"RFAI\") (NASDAQ: RFAI), a publicly traded special purpose acquisition company, in a transaction that will result in NYB becoming a publicly listed company (the \"Proposed Transaction\"). Following the closing, the combined company (the \"Combined Company\") is expected to be listed on Nasdaq under the reserved ticker symbol \"NYB\".\n\nThe Proposed Transaction gives NYB approximately $1.5 billion in pre-transaction equity value. NYB's existing shareholders, including The9, will roll over 100% of the equity and retain a majority of the Combined Company's outstanding shares, while NYB will also designate a majority of the Combined Company's board of directors. The transaction has been approved by the Board of Directors of NYB and RFAI, and its closing is expected to be in the first or second quarter of 2026, subject to shareholders' approval and the satisfaction of customary closing conditions. Additional information about the Proposed Transaction, including a copy of the business combination agreement and investor presentation, will be provided in one or more Current Reports on Form 8-K to be filed by RFAI with the SEC.\nFollowing the Proposed Transaction, NYB aims to accelerate the discovery of more effective drug molecules and identify active ingredients from natural sources for use in both pharmaceuticals and traditional medicine by utilizing its AI platform accelerating therapeutic discoveries.\nIn June 2025, NYB was crowned the 1st Prize Winner among over 700 regional startups in the SuperAI Genesis Startup Competition 2025, held at SuperAI Singapore, Asia's largest AI event. among over 700 regional startups\nIn August 2025, NYB entered into a Memorandum of Understanding with Nvidia, Hewlett Packard Enterprise and Equinix focusing on building the largest natural compound library in the world, developing scalable AI platforms for drug discovery, and creating secure, enterprise-grade infrastructure for healthcare innovation. AI-dri...