Company: ONCHW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110042
Chunk: 80

Company: 1RT Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 80
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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 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.  

As of September 30, 2025, we had cash of $741,229.
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