Rithm Acquisition Corp.
For the period ended Mar 31, 2025. Filed May 9, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 9, 2025
RAC$10.60-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Balance Sheet as of March 31, 2025 (Unaudited)
CONDENSED BALANCE SHEET
MARCH 31, 2025
| | | | |
|---|---|---|---|
| Assets: · · | |||
| Current asset · | |||
| Cash | | $1,034,225 | |
| Prepaid expenses | | 22,904 | |
| Short-term prepaid insurance | | 187,500 | |
| Total current assets | | 1,244,629 | |
| Long-term prepaid insurance | | 170,759 | |
| Cash held in Trust Account | | 230,810,111 | |
| Total Assets | | $232,225,499 | |
| | | | |
| Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit | | ||
| Current Liabilities | | ||
| Accrued offering costs | | $112,885 | |
| Accrued expenses | | 70,797 | |
| Due to Sponsor | | 39,882 | |
| Total current liabilities | | 223,564 | |
| Deferred underwriting fee payable | | 8,050,000 | |
| Total Liabilities | | 8,273,564 | |
| | | | |
| Commitments and Contingencies (Note 5) | | ||
| Class A ordinary shares subject to possible redemption, 23,000,000 shares at redemption value of $10.04 per share | | 230,810,111 | |
| | | | |
| Shareholders’ Deficit | | ||
| Preferred shares, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding | | — | |
| Class A ordinary shares, $0.0001 par value; 200,000,000 shares authorized; 660,000 shares issued and outstanding (excluding 23,000,000 shares subject to possible redemption) | | 66 | |
| Class B ordinary shares, $0.0001 par value; 20,000,000 shares authorized; 5,750,000 shares issued and outstanding | | 575 | |
| Additional paid-in capital | | — | |
| Accumulated deficit | | (6,858,817) | |
| Total Shareholders’ Deficit | | (6,858,176) | |
| Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit | | $232,225,499 | |
CONDENSED STATEMENTS OF OPERATIONS
| | | | | | | |
|---|---|---|---|---|---|---|
| · · · · · For the Period | ||||||
| · · · · · from November 21, | ||||||
| · · For the Three · · 2024 (Inception) | ||||||
| · · Months Ended · · Through | ||||||
| · March 31, 2025 · March 31, 2025 | ||||||
| General and administrative expenses | | $129,928 | | $176,160 | ||
| Loss from operations | | (129,928) | | (176,160) | ||
| | | | | | | |
| Other income: | | | | | | |
| Interest earned on cash held in Trust Account | | 810,111 | | 810,111 | ||
| Total other income | | 810,111 | | 810,111 | ||
| | | | | | | |
| Net income | | $680,183 | | $633,951 | ||
| | | | | | | |
| Basic and diluted weighted average shares outstanding, Class A ordinary shares | | 8,241,124 | | 5,642,000 | ||
| | | | | | | |
| Basic and diluted net income per share, Class A ordinary shares | | $0.05 | | $0.06 | ||
| | | | | | | |
| Basic weighted average shares outstanding, Class B ordinary shares (1) | | 5,261,236 | | 4,986,538 | ||
| | | | | | | |
| Basic net income per share, Class B ordinary shares | | $0.05 | | $0.06 | ||
| | | | | | | |
| Diluted weighted average shares outstanding, Class B ordinary shares (1) | | 5,750,000 | | 5,528,846 | ||
| | | | | | | |
| Diluted net income per share, Class B ordinary shares | | $0.05 | | $0.06 | ||
| (1) | The Company has considered the effect of the 750,000 Class B ordinary shares subject to forfeiture that were excluded from the weighted average number of shares calculation as they were contingent upon the exercise of over-allotment option by the underwriters. At the closing of the Company’s Initial Public Offering on February 28, 2025, the underwriters exercised their over-allotment option in full, thus, the contingency was satisfied. |
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS’ DEFICIT
FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND FOR THE PERIOD FROM NOVEMBER 21, 2024 (INCEPTION) THROUGH MARCH 31, 2025
| | | | | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · Class A · · Class B · · Additional · · · · · Total | |||||||||||||||||||
| · · Ordinary Shares · · Ordinary Shares · · Paid-in · · Accumulated · · Shareholders’ | |||||||||||||||||||
| · Shares · Amount · Shares · Amount · Capital · Deficit · Deficit | |||||||||||||||||||
| Balance — November 21, 2024 | | — | | $— | | — | | $— | | $— | | $— | | $— | |||||
| | | | | | | | | | | | | | | | | | | | |
| Issuance of Class B ordinary shares to Sponsor | | — | | | — | | 5,750,000 | | | 575 | | | 24,425 | | | — | | | 25,000 |
| | | | | | | | | | | | | | | | | | | | |
| Net loss | | — | | | — | | — | | | — | | | — | | | (46,232) | | | (46,232) |
| | | | | | | | | | | | | | | | | | | | |
| Balance – December 31, 2024 | | — | | | — | | 5,750,000 | | | 575 | | | 24,425 | | | (46,232) | | | (21,232) |
| | | | | | | | | | | | | | | | | | | | |
| Sale of 660,000 Private Placement Units | | 660,000 | | | 66 | | — | | | — | | | 6,599,934 | | | — | | | 6,600,000 |
| | | | | | | | | | | | | | | | | | | | |
| Fair value of Public Warrants at issuance | | — | | | — | | — | | | — | | | 2,464,833 | | | — | | | 2,464,833 |
| | | | | | | | | | | | | | | | | | | | |
| Allocated value of transaction costs to Warrants and Private Placement Units | | — | | | — | | — | | | — | | | (160,738) | | | — | | | (160,738) |
| | | | | | | | | | | | | | | | | | | | |
| Accretion of Class A ordinary shares to redemption amount | | — | | | — | | — | | | — | | | (8,928,454) | | | (7,492,768) | | | (16,421,222) |
| | | | | | | | | | | | | | | | | | | | |
| Net income | | — | | | — | | — | | | — | | | — | | | 680,183 | | | 680,183 |
| | | | | | | | | | | | | | | | | | | | |
| Balance – March 31, 2025 | | 660,000 | | $66 | | 5,750,000 | | $575 | | $— | | $(6,858,817) | | $(6,858,176) | |||||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.