Rainier Acquisition Corporation (RNAQ)

Rainier Acquisition Corporation is a special purpose acquisition company, or blank-check company, whose Class A ordinary shares trade on the Nasdaq. It was formed to raise capital through an initial public offering and use the proceeds to merge with or acquire an operating business.

The company has no commercial operations of its own. Funds raised in its offering are held in a trust account until it completes a business combination or returns the money to shareholders if no deal is completed within the allowed time. Its eventual target industry and partner are determined by its sponsor and management team.