RF Acquisition Corp II is a special purpose acquisition company (SPAC) — a blank check company with no operations, products, or revenue. RF Acquisition raised $115M in its May 2024 IPO, with proceeds held in a Trust Account while management searches for a private company to acquire and take public through a Business Combination. RF Acquisition's target focus is Asia-based companies in deep technology, specifically artificial intelligence, quantum computing, and biotechnology. RF Acquisition has explicitly ruled out targets using a variable interest entity (VIE) structure, commonly used by Chinese companies to list overseas. RF Acquisition is incorporated in the Cayman Islands, listed on Nasdaq, and managed by two Singapore-based executives, with Alfa 24 Limited as the sponsor. The company has not yet identified a target, and faces a deadline of approximately August 2026 to complete a deal. At an extraordinary general meeting in November 2025, holders of roughly 6.7M shares redeemed, pulling ~$71.6M out of the Trust Account, leaving ~$51.9M in trust and only ~$162,000 in cash outside the Trust Account to fund operations. The sponsor is incentivized to complete a deal before the deadline, while public shareholders hold downside protection through a redemption right at roughly $10.00 per share plus interest; if no deal is completed, the Trust Account is liquidated and founder shares expire worthless.