Company: ONCHW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075689
Chunk: 27

Company: 1RT Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 $10.00 per Unit, generating gross proceeds of $172,500,000.

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the sale of an aggregate of 2,250,000 Private Placement Warrants (including if the underwriters’
over-allotment option is exercised in full) in a private placement to the Sponsor and Cantor Fitzgerald & Co., the representative
of the underwriters of the Initial Public Offering, 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 closing of the Initial Public Offering,
on July 3, 2025, an amount of $172,500,000 ($10.00 per Unit) from the net proceeds of the sale of the Units and the Private Placement
Warrants was placed in the Trust Account with Continental Stock Transfer & Trust Company acting as trustee.

Following the closing of the Initial Public Offering,
on July 3, 2025, the Company paid the note in full and the excess payment of $24,350 has been returned by Sponsor to the Company on July
9, 2025.

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
director and for their services through the Company’s initial Business Combination. The founder shares, represented by such membership
interests, will remain with the Sponsor if the holder of such membership interests are no longer serving the Company prior to the initial
Business Combination. The membership interest assignment of the founder shares to the holders of such interests are in the scope of FASB
ASC Topic 718, “Compensation-Stock Compensation” (“ASC 718”). Under ASC 718, stock-based compensation associated
with equity-classified awards is measured at fair value upon the assignment date. The total fair value of the 75,000 founder shares represented
by such membership interests assigned to the holders of such interests on July 1, 2025 was $193,500 or $2.58 per share. The membership
interests were assigned subject to a performance condition (i.e., providing services through Business Combination