Renatus Tactical Acquisition Corp I-A(RTAC) - 2025 Q2 - Quarterly Report

PART I. FINANCIAL INFORMATION Item 1. Interim Financial Statements Presents Renatus Tactical Acquisition Corp I's unaudited condensed financial statements and notes on organization and accounting policies Condensed Balance Sheets | 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 | 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 | 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 | 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 NOTE 1 — DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS AND GOING CONCERN Renatus Tactical Acquisition Corp I, a blank check company, completed its IPO in May 2025, raising $241.5 million for a business combination - The Company is a blank check company incorporated on July 2, 2024, for the purpose of effecting a business combination, with a focus on high potential businesses in the United States[22][23] | Event | Date | Gross Proceeds ($) | | :----------------------- | :--------- | :----------------- | | 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] - 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][38] NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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][43] - 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] - Income taxes are not levied on the Company by the Government of the Cayman Islands, thus not reflected in financial statements[49] | 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][52] - 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][61] NOTE 3 — INITIAL PUBLIC OFFERING 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=