Real Asset Acquisition Corp-A(RAAQ) - 2025 Q2 - Quarterly Report

Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $1,051,484, driven by investment earnings on marketable securities of $1,147,520, offset by general and administrative expenses of $96,036[123] - For the six months ended June 30, 2025, the company had a net income of $998,635, resulting from earnings and realized gains on marketable securities of $1,147,520, with general and administrative expenses totaling $148,885[123] Initial Public Offering - The company completed its Initial Public Offering on April 30, 2025, raising gross proceeds of $172,500,000 from the sale of 17,250,000 units, including 2,250,000 units from the underwriters' over-allotment option[127] - The company also raised $5,450,000 from the sale of 5,450,000 Private Placement Warrants at a price of $1.00 per warrant[128] - The company placed $172,500,000 from the Initial Public Offering proceeds into a Trust Account, which will be used to complete its initial Business Combination[129] - The company expects to use the funds in the Trust Account, including interest earned, to pay taxes and finance operations of the target business post-Business Combination[130] - The company does not anticipate needing to raise additional funds for operating expenditures following the Initial Public Offering, but may require additional financing for the Business Combination[131] Cash Flow and Financial Position - As of June 30, 2025, the company had net cash used in operating activities of $158,436, with adjustments for earnings on marketable securities and related party promissory notes[125] - As of June 30, 2025, the company did not have any off-balance sheet arrangements[132] Shareholder Information - The company’s Class A ordinary shares have a redemption feature allowing for redemption in connection with liquidation events, with a redemption value of $10.07 per share as of June 30, 2025[141] Accounting Standards - The Company adopted ASU 2023-07 on December 9, 2024, the date of its incorporation[143] - The ASU requires public entities to disclose the title and position of the CODM and how segment profit or loss measures are used for performance assessment and resource allocation[143] - The 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[143] - The Company's management does not believe that any recently issued accounting pronouncements will have a material effect on the financial statements[144] - The Company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[145]