Ribbon’s stock muted ahead of holiday; eyes on DRC medicine deal instead
Ribbon Acquisition Corp.’s Class A shares closed at $10.68 on Friday, down 1 cent, with only 25 shares traded ahead of the Memorial Day market holiday. The SPAC holds $37.7 million in trust and faces uncertainty over shareholder redemptions as it pursues a merger with Japan-based DRC Medicine, a deal valuing the combined company at $422 million if no investors cash out.
