STANDBY EQUITY PURCHASE AGREEMENT, DATED AS OF SEPTEMBER 2, 2026, BY AND AMONG RIBBON ACQUISITION CORP., DRC MEDICINE LTD. AND METEORA SELECT TRADING OPPORTUNITIES MASTER, LP, AND JOINED BY DRC MEDICINE INC
Ribbon Acquisition Corp.
STANDBY EQUITY PURCHASE AGREEMENT
DRC Medicine Inc.
THIS STANDBY EQUITY PURCHASE AGREEMENT (this “Agreement”) dated as of September 2, 2026 is made by and among METEORA SELECT TRADING OPPORTUNITIES MASTER, LP, a Cayman Islands exempted limited partnership (together with its affiliates and permitted assigns, the “Investor”), RIBBON ACQUISITION CORP., a Cayman Islands exempted company (“RIBB”), and DRC MEDICINE LTD., a Japanese corporation (the “Target”). The term “Company” refers to RIBB until the closing of the Business Combination (as defined in Annex I) and, following the closing of the Business Combination, to DRC Medicine Inc., a Delaware corporation (“PubCo”). In connection with the transactions contemplated by the Business Combination Agreement, (i) PubCo and the Target will engage in a share exchange pursuant to which the Target will become a wholly-owned subsidiary of PubCo (the “Share Exchange”); (ii) RIBB will de-register as a Cayman Islands exempted company and domesticate as a Delaware corporation (the “Domestication”); and (iii) at the closing of the Business Combinati
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