Company: ONCHW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110042
Chunk: 51

Company: 1RT Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 51
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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
proceeds of the Initial Public Offering and the Private Placement Warrants, although substantially all of the net proceeds are intended
to be generally applied toward consummating a Business Combination (less deferred underwriting commissions).

Transaction costs amounted to $11,867,239, consisting
of $3,000,000 of cash underwriting fees, $8,212,500 of deferred underwriting fees, and $654,739 of other offering costs.

The Company’s Business Combination must
be with one or more target businesses that together have a fair market value equal to at least 80% of the net balance in the Trust Account
(as defined below) (excluding the amount of deferred underwriting discounts held and taxes payable on the income earned on the Trust
Account) at the time of the signing an agreement to enter into a Business Combination. However, the Company will only complete a Business
Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding voting securities of the target
or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company
under the Investment Company Act of 1940, as amended (the “Investment Company Act”). There is no assurance that
the Company will be able to successfully effect a Business Combination.

Following the closing of the Initial Public Offering,
on July 3, 2025, an amount of $172,500,000 ($10.00 per Unit) from the net