Company: ONCHW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075689
Chunk: 5

Company: 1RT Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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, and $654,739 of other offering costs.

The Company’s Business Combination must
be with one or more target businesses that together have a fair market value equal to at least 80% of the net balance in the Trust Account
(as defined below) (excluding the amount of deferred underwriting discounts held and taxes payable on the income earned on the Trust
Account) at the time of the signing an agreement to enter into a Business Combination. However, the Company will only complete a Business
Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding voting securities of the target
or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company
under the Investment Company Act of 1940, as amended (the “Investment Company Act”). There is no assurance that
the Company will be able to successfully effect a Business Combination.

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 (the “Trust Account”), with Continental Stock Transfer & Trust Company acting
as trustee. The funds may only be invested in U.S. government treasury obligations with a maturity of 185 days or less or in
money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct
U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose
of facilitating the intended business combination. To mitigate the risk that the Company might be deemed to be an investment company
for purposes of the Investment Company Act, which risk increases the longer that the Company holds investments in the Trust Account,
the Company may, at any time (based on the management team’s ongoing assessment of all factors related to the Company’s potential
status under the Investment Company Act), instruct the trustee to liquidate the investments held in the Trust Account and instead to
hold the funds in the Trust Account in cash or in an interest bearing demand deposit account at a bank. Except with respect to interest
earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the proceeds from the Initial
Public Offering and the sale of the Private Placement Warrants will not be released