Company: ONCHW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110042
Chunk: 50

Company: 1RT Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 50
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1RT ACQUISITION CORP.
NOTES TO CONDENSED FINANCIAL STATEMENTS
SEPTEMBER 30, 2025
(Unaudited)

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

1RT Acquisition Corp. (the “Company”)
is a blank check company incorporated as a Cayman Islands exempted corporation on December 13, 2024. The Company was incorporated
for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business
combination with one or more businesses (the “Business Combination”).

As of September 30, 2025, the Company has not
commenced any operations. All activity for the period from December 13, 2024 (inception) through September 30, 2025 relates to the
Company’s formation, the Initial Public Offering (as defined below), and subsequent to the Initial Public Offering, identifying
a target company for a Business Combination. The Company will not generate any operating revenues until after the completion of its initial
Business Combination, at the earliest. The Company generates non-operating income in the form of interest income from the proceeds derived
from the Initial Public Offering (as defined below). The Company has selected December 31 as its fiscal year end.

The registration statement for the Company’s
Initial Public Offering was declared effective on July 1, 2025. On July 3, 2025, the Company consummated the Initial Public Offering
of 17,250,000 units (the “Units” and, with respect to the Class A ordinary shares included in the Units being offered, the
“Public Shares”), 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. Each Unit consists of one Class A ordinary share and one-quarter
of one redeemable warrant (“Public Warrant”). Each whole warrant will entitle the holder to purchase one Class A ordinary
share at a price of $11.50 per share, subject to adjustment. Each warrant will become exercisable 30 days after the completion of
the initial Business Combination and will expire five years after the completion of the initial Business Combination, or earlier
upon redemption or liquidation.

The Company’s Sponsor is 1RT Acquisition
Sponsor LLC (