Company: ONCHW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110042
Chunk: 97

Company: 1RT Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 97
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 health considerations, and geopolitical instability, such as the military conflicts in Ukraine and the Middle East.
We cannot at this time predict the likelihood of one or more of the above events, their duration or magnitude or the extent to which
they may negatively impact our business and our ability to complete an initial Business Combination.

18

Liquidity, Capital Resources and Going Concern

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.

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 in Initial Public Offering related costs, consisting of $3,000,000 of cash underwriting fees, $8,212,500 of deferred underwriting
fees, and $654,739 of other offering costs.

For the nine months ended September 30, 2025,
cash used in operating activities was $293,043. Net income of $1,325,854 was affected by payment of operation costs through promissory
note of $49,067 and interest earned on marketable securities held in the Trust Account of $1,683,318. Changes in operating assets and
liabilities used $15,354 of cash for operating activities.

As of September 30, 2025, we had marketable securities
held in the Trust Account of $174,183,318 (including approximately $1,683,318 of interest income) consisting of U.S. Treasury Bills with
a maturity of 185 days or less. We may withdraw interest from the Trust Account to pay taxes, if any. We intend to