Company: ONCHW
Filing Date: 2025-06-11
Form Type: S-1
Source: 0001213900-25-053361
Chunk: 23

Company: 1RT Acquisition Corp.
Filing Date: 2025-06-11
Form: S-1
Chunk 23
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 for substantially similar purposes as ours. Aries completed its initial public offering in 2021, in which it sold 14,375,000 units, each consisting of one class A ordinary share and one - quarterof one redeemable warrant, for an offering price of $10.00 per unit, generating aggregate proceeds of $143,750,000. Aries did not consummate an initial business combination within the time period required by its amended and restated memorandum and articles of association, and redeemed all of its outstanding class A ordinary shares in March 2023. Mr.Vincent previously served as the president of Sarissa Capital Acquisition Corp. (“Sarissa”), a blank check acquisition company formed for substantially similar purposes as ours. Sarissa completed its initial public offering in 2020, in which it sold 20,000,000 units, each consisting of one class A ordinary share and one -thirdof one redeemable warrant, for an offering price of $10.00 per unit, generating aggregate proceeds of $200,000,000. Mr.Vincent stepped down from his role as Sarissa’s president, effective July12, 2022. Sarissa did not consummate an initial business combination within the time period required by its amended and restated memorandum and articles of association, and redeemed all of its outstanding class A ordinary shares in October 2022. Potential Additional Financings We may need to obtain additional financing to complete our initial business combination, either because the transaction requires more cash than is available from the proceeds held in our trust account or because we become obligated to redeem a significant number of our public shares upon completion of the business combination, in which case we may issue additional securities or incur debt in connection with such business combination. If we raise additional funds through equity or convertible debt issuances, our public shareholders may suffer significant dilution and these securities could have rights that rank senior to our public shares. If we raise additional funds through the incurrence of indebtedness, such indebtedness would have rights that are senior to our equity securities and could contain covenants that restrict our operations. Further, as described above, due to the anti -dilutionrights of our founder shares, our public shareholders may incur material dilution. In addition, we intend to target businesses with enterprise values that are greater than we could acquire with the net proceeds of this offering and the sale of the private placement warrants, and, as a result, if the cash portion of the purchase price exceeds the amount available from the trust