Global Partners's 15min chart triggers MACD Death Cross, KDJ Death Cross, Bearish Marubozu.

Global Partners's 15-minute chart exhibits bearish momentum as evidenced by the MACD Death Cross, KDJ Death Cross, and Bearish Marubozu that occurred on July 1, 2025 at 13:30. This suggests that the stock price is likely to continue its downward trend, with a shift in momentum towards the downside and a potential further decrease in value. Sellers are currently in control of the market, and the bearish momentum is expected to persist.

Title: Ribbon Acquisition Corp (RIBBU) and DRC Medicine Ltd. Announce Business Combination Agreement

Ribbon Acquisition Corp (RIBBU), a blank check company focused on identifying strategic business combinations across global markets, has announced a significant development in its operations. The company has entered into a business combination agreement with DRC Medicine Ltd., a Japanese healthcare and biotechnology company. This agreement will result in DRC Medicine becoming a publicly traded company, with a pro forma equity value of $422.15 million and cash proceeds of $50.42 million, assuming no redemptions [1].

DRC Medicine specializes in proprietary Hydro Silver Titanium® technology for therapeutic masks targeting seasonal allergic rhinitis. The company is also developing In Vitro Diagnostic (IVD) kits for infectious diseases and allergen detection, utilizing AI-powered applications and cell-free protein synthesis technology. Additionally, DRC Medicine is in final negotiations to acquire a company developing an ATP-enhancing drug for Parkinson's disease.

Under the agreement terms, current DRC Medicine shareholders will maintain 100% of their equity and own approximately 82.91% of the combined company on a pro forma basis. The transaction implies a pre-money equity value of $350 million for DRC on a fully diluted basis [1].

This acquisition aligns with RIBBU's focus on Asia Pacific opportunities outside Greater China, as DRC Medicine is based in Japan. The deal represents a strategic move for RIBBU to expand its portfolio and enter the healthcare and biotechnology sectors.

Ribbon Acquisition Corp has also recently announced several other developments. In March 2025, it announced that holders of its 5,000,000 units from the initial public offering could now separately trade the ordinary shares and rights included in these units, effective March 7, 2025 [2]. Additionally, RIBBU successfully completed its initial public offering (IPO) of 5,000,000 units at $10.00 per unit, raising $50 million in January 2025 [3].

These developments suggest that RIBBU is actively pursuing its SPAC mandate, seeking out strategic business combinations to create value for its shareholders.

References

[1] https://www.stocktitan.net/news/RIBBU/
[2] https://www.stocktitan.net/news/RIBBU/
[3] https://www.stocktitan.net/news/RIBBU/