Range Capital Acquisition Corp. Issues Sponsor Promissory Note; $180K Outstanding

What Happened
Range Capital Acquisition Corp. announced it issued an unsecured promissory note on June 18, 2026 to its sponsor, Range Capital Acquisition Sponsor, LLC, with a principal amount of up to $540,000 to fund monthly sponsor contributions (up to $60,000) to the SPAC’s trust account. The Note is non‑interest bearing and is payable upon the earlier of the company’s consummation of an initial business combination or the effective winding up of the company. The company reported a $60,000 drawdown from the Note on August 21, 2026 and stated that $180,000 in principal was then outstanding under the Note. The Note was issued under the Section 4(a)(2) exemption from registration.

Key Details

• Note issued June 18, 2026 to Range Capital Acquisition Sponsor, LLC for up to $540,000.
• Sponsor expected to contribute up to $60,000 per month to the trust account; $60,000 drawn on Aug 21, 2026.
• $180,000 aggregate principal outstanding as of the filing.
• No interest; repayment due on consummation of a business combination or winding up; if no combination, repayment only from amounts remaining outside the trust account. Events of default include customary triggers that can accelerate repayment.

Why It Matters
This transaction provides short‑term funding support to the SPAC’s trust account and covers planned monthly sponsor contributions, which help meet administrative costs and support the trust while the company seeks a target. Because the Note is non‑recourse to the trust (repayment comes only from amounts outside the trust if no business combination occurs), investors should note that repayment is limited if funds are needed for redemptions or winding up. The terms and outstanding amount are relevant to assessing the company’s near‑term liquidity and potential obligations tied to its search for an initial business combination.