Real Asset Acquisition Corp-A(RAAQ) - 2025 Q4 - Annual Report

Financial Performance - For the year ended December 31, 2025, the company reported a net income of $4,249,896, driven by earnings and realized gains on cash equivalents held in the Trust Account of $4,606,744[315]. - The company generated gross proceeds of $172,500,000 from its Initial Public Offering of 17,250,000 units, including 2,250,000 units from the underwriters' over-allotment option[320]. - Net cash used in operating activities for the year ended December 31, 2025, was $14,833, with adjustments for earnings on marketable securities totaling $4,624,457[317]. - The company incurred general and administrative expenses of $374,202 for the year ended December 31, 2025[315]. - Net cash provided by financing activities for the year ended December 31, 2025, was $173,563,004, attributed to proceeds from the sale of units and private placement warrants[319]. Business Operations - The company has not engaged in any operations or generated revenues to date, with expectations to do so only after completing its initial Business Combination[314]. - The company intends to use substantially all funds held in the Trust Account to complete its initial Business Combination and may withdraw interest to pay taxes[324]. Financial Obligations - The company has a promissory note from the Sponsor for up to $300,000 to cover expenses related to the Initial Public Offering, which was fully paid during the year ended December 31, 2025[329]. - As of December 31, 2025, the company did not have any off-balance sheet arrangements[327]. Going Concern - The company faces substantial doubt about its ability to continue as a going concern due to mandatory liquidation considerations[326].