Company: ONCHW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075689
Chunk: 69

Company: 1RT Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 other similar Business Combination with one or more businesses (“Business Combination”).
We intend to effectuate our Business Combination using cash derived from the proceeds of the Initial Public Offering and the sale of the
Private Placement Warrants, our shares, debt or a combination of cash, shares and debt.

We expect to continue to incur significant costs
in the pursuit of our acquisition plans. We cannot assure you that our plans to complete a Business Combination will be successful.

Results of Operations

We have neither engaged in any operations nor
generated any revenues to date. Our only activities from December 13, 2024 (inception) through June 30, 2025 were organizational
activities and those necessary to prepare for the Initial Public Offering, described below. We do not expect to generate any operating
revenues until after the completion of our Business Combination. Subsequent to the Initial Public Offering, we generate non-operating
income in the form of interest income on marketable securities held in the Trust Account. We incur expenses as a result of being a public
company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended June 30, 2025, we
had a net loss of $41,267, which consisted of general and administrative costs.

For the six months ended June 30, 2025, we had
a net loss of $72,267, which consisted of general and administrative costs.

Liquidity and Capital Resources

Until the consummation of the Initial Public
Offering, our only source of liquidity was an initial purchase of shares of Class B ordinary shares, par value $0.0001 per share,
by the Sponsor and loans from the Sponsor.

Subsequent to the quarterly period covered by
this Quarterly Report on Form 10-Q, on July 3, 2025, we consummated the Initial Public Offering of 17,250,000 Units, which includes the
full exercise by the underwriters of their over-allotment option in the amount of 2,250,000 Units, at $10.00 per Unit, generating gross
proceeds of $172,500,000. Simultaneously with the closing of the Initial Public Offering, we consummated the sale of an aggregate of
2,250,000 Private Placement Warrants at a price of $2.00 per warrant, or $4,500,000 in the aggregate. Of those 2,250