Company: ONCHW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075689
Chunk: 53

Company: 1RT Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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 loss per ordinary share is the same as basic loss
per ordinary share for the periods presented.

Recent Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07,
“Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments in this ASU require disclosures,
on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”),
as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. The ASU requires that
a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment
profit or loss in assessing segment performance and deciding how to allocate resources. Public entities will be required to provide all
annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to
provide all the disclosures required by the amendments in this ASU and existing segment disclosures in Topic 280. This ASU is effective
for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early
adoption permitted. The Company adopted ASU 2023-07 on December 13, 2024, inception date.

Management does not believe that any other recently
issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial
statement.

NOTE 3. INITIAL PUBLIC OFFERING

Pursuant to the Initial Public Offering on July
3, 2025, the Company sold 17,250,000 Units, which includes the full exercise by underwriters of their over-allotment option in
the amount of 2,250,000 Units at a purchase price of $10.00 per Unit. Each Unit that the Company is offering has a price of $10.00 and
consists of one Class A ordinary share and one-quarter of one redeemable warrant (“Public Warrant”). Each whole warrant
will entitle the holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment. Each warrant
will become exercisable 30 days after the completion of the initial Business Combination and will expire five years after the
completion of the initial Business Combination, or earlier upon redemption or liquidation.

Public W