Company: ONCHW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110042
Chunk: 82

Company: 1RT Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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 liabilities, other than an agreement with the affiliate of the Sponsor, to pay
an aggregate of $12,500 per month for office space, utilities, and secretarial and administrative support. We began incurring these fees
on July 3, 2025 and will continue to incur these fees monthly until the earlier of the completion of the Business Combination and our
liquidation.

The underwriters had a 45-day option from the
date of the Initial Public Offering to purchase up to an additional 2,250,000 units to cover over-allotments, if any. On July 3,
2025, the underwriters elected to fully exercise their over-allotment option to purchase an additional 2,250,000 Units at a price of
$10.00 per Unit.

19

Critical Accounting Estimates

The preparation of unaudited condensed financial
statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets
and liabilities at the date of the financial statements, and income and expenses during the periods reported. Making estimates requires
management to exercise significant judgement. It is at least reasonably possible that the estimate of the effect of a condition, situation
or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate,
could change in the near term due to one or more future confirming events. Accordingly, the actual results could materially differ from
those estimates. As of September 30, 2025, we did not have any critical accounting estimates to be disclosed.

Class A Ordinary Shares Subject to Possible
Redemption

We account for our ordinary shares subject to
possible conversion in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing
Liabilities from Equity.” Ordinary shares subject to mandatory redemption are classified as a liability instrument and measured
at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within
the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within our control) are classified
as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. Our ordinary shares feature certain
redemption rights that are considered to be outside of our control and subject to occurrence of uncertain future events. Accordingly,
ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of