K2 Capital Acquisition Corp Rights are contractual entitlements issued as part of the units in K2 Capital Acquisition Corp's initial public offering. Each right entitles the holder to receive one-fifth of one Class A ordinary share upon the successful completion of the company's initial business combination, which involves a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar transaction with one or more businesses. Holders must possess rights in multiples of five to receive whole shares. These rights recently became separately tradable following the separation of units into Class A ordinary shares and rights. As components of a blank check company, also known as a special purpose acquisition company or SPAC, they provide investors with exposure to potential value creation through the identification and execution of a business combination. K2 Capital Acquisition Corp Rights play a role in the SPAC market by offering leveraged participation in the de-SPAC process, distinct from the underlying shares, with no redemption rights or liquidating distributions attached.