Company: ONCHW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110042
Chunk: 52

Company: 1RT Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 52
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 proceeds of the sale of the Units and the Private Placement
Warrants was placed in the trust account (the “Trust Account”), with Continental Stock Transfer & Trust Company acting
as trustee. The funds may only be invested in U.S. government treasury obligations with a maturity of 185 days or less or in
money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct
U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose
of facilitating the intended business combination. To mitigate the risk that the Company might be deemed to be an investment company
for purposes of the Investment Company Act, which risk increases the longer that the Company holds investments in the Trust Account,
the Company may, at any time (based on the management team’s ongoing assessment of all factors related to the Company’s potential
status under the Investment Company Act), instruct the trustee to liquidate the investments held in the Trust Account and instead to
hold the funds in the Trust Account in cash or in an interest bearing demand deposit account at a bank. Except with respect to interest
earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the proceeds from the Initial
Public Offering and the sale of the Private Placement Warrants will not be released from the Trust Account until the earliest of (i) the
completion of the Company’s initial Business Combination, (ii) the redemption of the Company’s public shares if the
Company is unable to complete the initial Business Combination within 24 months from the closing of the Initial Public Offering
or by such earlier liquidation date as the Company’s board of directors may approve (the “Completion Window”), subject
to applicable law, or (iii) the redemption of the Company’s public shares properly submitted in connection with a shareholder
vote to amend the Company’s amended and restated memorandum and articles of association to (A) modify the substance or timing
of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem 100% of the Company’s
public shares if the Company has not consummated an initial Business Combination within the Completion Window or (B) with respect
to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity. The proceeds deposited
in the Trust Account could become subject to the claims of the Company’s creditors, if any