Business Context and Reporting Period
Company: Range Capital Acquisition Corp II (RNGT)
Reporting Period: Quarter ended June 30, 2026
Business Type: Cayman Islands exempted company (SPAC) formed to effect a business combination. The Company has not yet commenced operations or selected a target. It is classified as a shell company, non-accelerated filer, smaller reporting company, and emerging growth company.
Capital Structure: 23,000,000 Class A ordinary shares subject to possible redemption and 7,666,667 Class B ordinary shares (founder shares) outstanding as of June 30, 2026.
Key Financial Metrics
| Metric | As of/For Period Ended June 30, 2026 | As of/For Period Ended Dec 31, 2025 |
|---|---|---|
| Cash (Operating) | $816,510 | $1,122,608 |
| Trust Account Balance | $236,249,983 | $232,104,545 |
| Total Assets | $237,199,332 | $233,365,127 |
| Total Liabilities | $8,191,607 | $8,135,602 |
| Net Income (6 Months) | $3,778,200 | N/A |
| Net Income (3 Months) | $1,934,271 | N/A |
| Operating Expenses (6 Months) | $382,512 | N/A |
| Deferred Underwriting Fee | $8,050,000 | $8,050,000 |
| Working Capital | $790,234 | N/A |
Material Changes vs. Prior Period
- Trust Account Growth: The Trust Account balance increased by approximately $4.15 million from December 31, 2025, to June 30, 2026, driven by interest earned on marketable securities ($4,145,438 for the six months).
- Operating Cash Flow: Net cash used in operating activities was $321,163 for the six months ended June 30, 2026, compared to $15,720 for the period from inception through June 30, 2025. This reflects increased administrative costs associated with being a public company.
- Liabilities: Current liabilities increased from $85,602 to $141,607, primarily due to an increase in accounts payable and accrued expenses and a new advance from a related party of $15,065.
- Profitability: The Company reported a net income of $3,778,200 for the six months ended June 30, 2026, contrasting with a net loss of $12,437 for the period from inception through June 30, 2025. The income is non-operating, derived from interest on the Trust Account.
Outlook, Risks, and Management Commentary
- Going Concern: Management has determined that the liquidity issue raises substantial doubt about the Company's ability to continue as a going concern for one year from the date of the financial statements. Available funds outside the Trust Account may not be sufficient to sustain operations while pursuing a business combination.
- Business Combination Deadline: The Company must complete an initial business combination within 24 months from the closing of the Initial Public Offering (October 6, 2025), or by an earlier liquidation date approved by the board. If not completed, the Company will redeem public shares and liquidate.
- Related Party Transactions: The Company pays an affiliate of the Sponsor $20,000 per month for administrative services. As of June 30, 2026, $15,065 in advances from the related party was outstanding.
- Risks: Risks include the inability to complete a business combination, market volatility due to geopolitical conflicts (Ukraine, Middle East), and the potential for the Trust Account to be subject to creditor claims.
- Warrants: 11,830,000 warrants are outstanding (11,500,000 public, 330,000 private) exercisable at $11.50 per share. Warrants may be redeemed if the share price exceeds $18.00 for 20 trading days within a 30-day period.
Investor Verification Checklist
- Verify the remaining time until the 24-month deadline for completing a business combination (approx. 18 months remaining from June 30, 2026).
- Confirm the sufficiency of the $816,510 operating cash balance to fund operations until the deadline or a business combination.
- Review the status of the $8,050,000 deferred underwriting fee payable upon completion of a business combination.
- Monitor the Trust Account balance per share ($10.27 as of June 30, 2026) to assess potential redemption value.
- Check for any updates on the Sponsor's ability to satisfy indemnification obligations regarding third-party claims against the Trust Account.