UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-42650 RENATUS TACTICAL ACQUISITION CORP I (Exact Name of Registrant as Specified in Its Charter) Cayman Islands N/A (State or ...

PART I. FINANCIAL INFORMATION [Item 1. Interim Financial Statements](index=4&type=section&id=Item%201.%20Interim%20Financial%20Statements) Presents Renatus Tactical Acquisition Corp I's unaudited condensed financial statements and notes on organization and accounting policies [Condensed Balance Sheets](index=4&type=section&id=Condensed%20Balance%20Sheets) | ASSETS (June 30, 2025) | Amount ($) | | :--------------------- | :----------- | | Cash | 569,066 | | Due from Sponsor | 44,648 | | Deferred insurance and other expenses | 616,654 | | Total Current Assets | 1,230,368 | | Cash held in Trust | 243,344,556 | | Total Assets | 244,574,924 | | **LIABILITIES AND SHAREHOLDERS' DEFICIT** | | | Accrued expenses | 618,770 | | Deferred underwriting fee | 8,452,500 | | Total Liabilities | 10,647,242 | | Class A ordinary shares subject to possible redemption | 243,344,556 | | Total Shareholders' Deficit | (9,416,874) | | Total Liabilities and Shareholders' Deficit | 244,574,924 | | ASSETS (December 31, 2024) | Amount ($) | | :--------------------- | :----------- | | Cash | - | | Due from Sponsor | - | | Deferred insurance and other expenses | 26,577 | | Total Current Assets | 26,577 | | Cash held in Trust | - | | Deferred offering costs | 597,798 | | Total Assets | 624,375 | | **LIABILITIES AND SHAREHOLDERS' DEFICIT** | | | Accrued expenses | 599,375 | | Total Liabilities | 599,375 | | Total Shareholders' Deficit | 25,000 | | Total Liabilities and Shareholders' Deficit | 624,375 | [Unaudited Condensed Statements of Operations](index=5&type=section&id=Unaudited%20Condensed%20Statements%20of%20Operations) | Item | Three Months Ended June 30, 2025 ($) | Six Months Ended June 30, 2025 ($) | | :----------------------- | :--------------------------------- | :--------------------------------- | | Formation and operating expenses | 445,972 | 445,972 | | Income earned on cash held in Trust | 1,240,806 | 1,240,806 | | Net Income | 794,834 | 794,834 | | Basic and diluted net income per ordinary share (redeemable) | 0.08 | 0.17 | | Basic and diluted net loss per ordinary share (non-redeemable) | (0.02) | (0.03) | [Unaudited Condensed Statements of Changes in Shareholders' Deficit](index=6&type=section&id=Unaudited%20Condensed%20Statements%20of%20Changes%20in%20Shareholders'%20Deficit) | Item | Balance, Dec 31, 2024 ($) | Private Warrants Proceeds ($) | Public Warrants Fair Value ($) | Offering Costs ($) | Remeasurement ($) | Reclassification of Negative Additional Paid-In Capital ($) | Net Income ($) | Balance, Jun 30, 2025 ($) | | :----------------------- | :------------------------ | :---------------------------- | :----------------------------- | :----------------- | :---------------- | :---------------------------------------------------------- | :------------- | :------------------------ | | Class B Ordinary Shares Amount | 701 | — | — | — | — | — | — | 701 | | Additional Paid-In Capital | 24,299 | 3,821,591 | 4,557,833 | (244,775) | (18,371,357) | 10,212,409 | — | — | | Accumulated Deficit | — | — | — | — | — | (10,212,409) | 794,834 | (9,417,575) | | Total Shareholders' Deficit | 25,000 | 3,821,591 | 4,557,833 | (244,775) | (18,371,357) | — | 794,834 | (9,416,874) | [Unaudited Condensed Statement of Cash Flows](index=7&type=section&id=Unaudited%20Condensed%20Statement%20of%20Cash%20Flows) | Cash Flow Activity | Six Months Ended June 30, 2025 ($) | | :----------------- | :--------------------------------- | | Net Cash Used in Operating Activities | (411,890) | | Net Cash Used in Investing Activities | (242,103,750) | | Net Cash Provided by Financing Activities | 243,084,706 | | Net change in cash | 569,066 | | Cash at end of period | 569,066 | [Notes to Unaudited Condensed Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Condensed%20Financial%20Statements) [NOTE 1 — DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS AND GOING CONCERN](index=8&type=section&id=NOTE%201%20%E2%80%94%20DESCRIPTION%20OF%20ORGANIZATION%20AND%20BUSINESS%20OPERATIONS%20AND%20GOING%20CONCERN) Renatus Tactical Acquisition Corp I, a blank check company, completed its IPO in May 2025, raising $241.5 million for a business combination - The Company is a blank check company incorporated on July 2, 2024, for the purpose of effecting a business combination, with a focus on high potential businesses in the United States[22](index=22&type=chunk)[23](index=23&type=chunk) | Event | Date | Gross Proceeds ($) | | :----------------------- | :--------- | :----------------- | | Initial Public Offering | May 16, 2025 | 241,500,000 | | Private Placement Warrants | May 16, 2025 | 3,821,591 | | Total Offering Proceeds | | 245,321,591 | - Transaction costs amounted to **$12,213,743**, including **$1,207,500** cash underwriting fee, **$8,452,500** deferred underwriting fee, and **$2,553,743** other offering costs[27](index=27&type=chunk) - As of June 30, 2025, the Company had cash of **$569,066** and working capital of **$611,598**, with management believing sufficient liquidity for the next year or until a business combination[36](index=36&type=chunk)[38](index=38&type=chunk) [NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES](index=11&type=section&id=NOTE%202%20%E2%80%94%20SUMMARY%20OF%20SIGNIFICANT%20ACCOUNTING%20POLICIES) Details significant accounting policies, covering US GAAP, emerging growth company status, cash, deferred costs, income taxes, EPS, trust account, fair value, warrants, and redeemable shares - The Company is an 'emerging growth company' and has elected to use the extended transition period for complying with new or revised financial accounting standards[42](index=42&type=chunk)[43](index=43&type=chunk) - Deferred offering costs were **$0** as of June 30, 2025, down from **$597,798** as of December 31, 2024, having been allocated to separable financial instruments issued in the IPO[47](index=47&type=chunk) - Income taxes are not levied on the Company by the Government of the Cayman Islands, thus not reflected in financial statements[49](index=49&type=chunk) | Item | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | | :----------------------------------- | :------------------------------- | :----------------------------- | | Net Income (Redeemable) | $957,382 | $1,032,479 | | Net Loss (Non-Redeemable) | $(162,548) | $(237,645) | | Basic and Diluted EPS (Redeemable) | $0.08 | $0.17 | | Basic and Diluted EPS (Non-Redeemable) | $(0.02) | $(0.03) | - As of June 30, 2025, cash held in the Trust Account was **$243,344,556**, with **$243,094,556** exceeding the SIPC limit[53](index=53&type=chunk)[52](index=52&type=chunk) - Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, with a carrying value of **$243,344,556** as of June 30, 2025[60](index=60&type=chunk)[61](index=61&type=chunk) [NOTE 3 — INITIAL PUBLIC OFFERING](index=16&type=section&id=NOTE%203%20%E2%80%94%20INITIAL%20PUBLIC%20OFFERING) The Company completed its Initial Public Offering, selling 24,150,000 units at $10.00 each, generating $241.5 million - The Company sold **24,150,000 units** at **$10.00 per unit** in its IPO, generating **$241,500,000**[64](index=