Range Capital Acquisition Corp. Issues Sponsor Note; $120K Outstanding

What Happened Range Capital Acquisition Corp. announced it issued an unsecured promissory note to its sponsor, Range Capital Acquisition Sponsor, LLC, dated June 18, 2026, with a principal amount of up to $540,000 to fund monthly contributions of up to $60,000 to the SPAC trust account. The note bears no interest and is payable on the earlier of the closing of the Company’s initial business combination or the effective date of the Company’s winding up. On July 23, 2026, the sponsor drew $60,000 under the note and deposited that amount into the trust account, bringing the total outstanding under the note to $120,000.

Key Details

• Note amount: up to $540,000 to be drawn for monthly contributions of up to $60,000.
• Important dates: note dated June 18, 2026; $60,000 drawn and deposited July 23, 2026; $120,000 outstanding in aggregate.
• Terms: unsecured, no interest; payable at business combination closing or upon winding up; if no business combination, repayment only from amounts remaining outside the trust account.
• Other: note includes customary default events that can accelerate repayment; issuance relied on the Section 4(a)(2) exemption from registration.

Why It Matters This provides short‑term cash support to meet trust account contribution commitments tied to the SPAC’s lifecycle and potential redemptions. Because the note is unsecured, interest‑free and repayable only from non‑trust funds if no deal occurs, investors should note the sponsor’s repayment is subordinate to the trust account structure and may be limited if the company winds up. The funding and outstanding balance are material to understanding the SPAC’s available outside‑trust resources as it pursues an initial business combination.