Company: ONCHW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110042
Chunk: 5

Company: 1RT Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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 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 (the “Sponsor”). Simultaneously with the closing of the Initial Public Offering, the Company consummated the
sale of an aggregate of 2,250,000 Private Placement Warrants (including if the underwriters’ over-allotment option is exercised
in full) (the “Private Placement Warrants”) in a private placement to the Sponsor and Cantor Fitzgerald & Co., the
representative of the underwriters of the Initial Public Offering, at a price of $2.00 per warrant, or $4,500,000 in the aggregate. Of
those 2,250,000 Private Placement Warrants, the Sponsor purchased 1,500,000 Private Placement Warrants and Cantor Fitzgerald &
Co. purchased 750,000 Private Placement Warrants. Each whole warrant entitles the holder to purchase one Class A ordinary share
at a price of $11.50 per share. The Company’s management has broad discretion with respect to the specific application of the net
pro