Company: ONCHW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075689
Chunk: 30

Company: 1RT Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 30
---
 Initial Public
Offering, our only source of liquidity was an initial purchase of shares of Class B ordinary shares, par value $0.0001 per share,
by the Sponsor and loans from the Sponsor.

Subsequent to the quarterly period covered by
this Quarterly Report on Form 10-Q, on July 3, 2025, we consummated the Initial Public Offering of 17,250,000 Units, 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. Simultaneously with the closing of the Initial Public Offering, we consummated the sale of an aggregate of
2,250,000 Private Placement Warrants 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.

16

Following the Initial Public Offering, the full
exercise of the over-allotment option, and the sale of the Units, a total of $172,500,000 was placed in the Trust Account. We incurred
$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.

We intend to use substantially all of the funds
held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes payable), to complete
our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our
Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the
target business or businesses, make other acquisitions and pursue our growth strategies.

We intend to use the funds held outside the Trust
Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel
to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate
documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

In order to fund working capital deficiencies
or