Company: ONCHW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075689
Chunk: 58

Company: 1RT Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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) waive their redemption
rights with respect to their founder shares and public shares in connection with a shareholder vote to approve an amendment to the Company’s
amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation
to allow redemption in connection with the initial Business Combination or to redeem 100% of the public shares if the Company has not
consummated an initial Business Combination within the Completion Window or (B) with respect to any other material provisions relating
to shareholders’ rights or pre-initial Business Combination activity; (iii) waive their rights to liquidating distributions
from the Trust Account with respect to their founder shares if the Company fails to complete the initial Business Combination within
the Completion Window, although they will be entitled to liquidating distributions from the Trust Account with respect to any public
shares they hold if the Company fails to complete the initial Business Combination within the Completion Window and to liquidating distributions
from assets outside the Trust Account; and (iv) vote any founder shares held by them and any public shares purchased during or after
the Initial Public Offering (including in open market and privately negotiated transactions, aside from shares they may purchase in compliance
with the requirements of Rule 14e-5 under the Exchange Act, which would not be voted in favor of approving the Business Combination)
in favor of the initial Business Combination. The Company’s sponsor, officers and directors did not receive any consideration for
such waivers.

NOTE 5. RELATED PARTY TRANSACTIONS

Founder Shares

On December 31, 2024, the Sponsor made a
capital contribution of $25,000, or approximately $0.006 per share, to cover certain of the Company’s expenses, for which the Company
issued 4,312,500 founders shares to the Sponsor. Up to 562,500 of the founder shares may be surrendered by the Sponsor for no consideration
depending on the extent to which the underwriters’ over-allotment option is exercised. On July 3, 2025, the underwriters exercised
their over-allotment option in full as part of the closing of the Initial Public Offering. As such, the 562,500 founder shares are no
longer subject to forfeiture.

On July 1, 2025, the Sponsor granted membership
interests equivalent to an aggregate of 75,000 founder shares to directors of the Company in exchange for the payment of $144.93 by each