Real Asset Acquisition Corp-A 2026年季度报告

As of May 15, 2026, there were 17,250,000 Class A ordinary shares, par value $0.0001 per share, issued and outstanding, and5,750,000 shares of the registrant’s Class B ordinary share, par value $0.0001 per share, issued and outstanding. REAL ASSET ACQUISITION CORP.TABLE OF CONTENTS PART 1 - FINANCIAL INFORMATION Item 1.UNAUDITED CONDENSED FINANCIAL STATEMENTSCondensed Balance Sheets as of March 31, 2026 (unaudited) and December 31, 20251 Unaudited Condensed Statements of Operations for the Three Months Ended March 31, 2026 and 2025 PART I. FINANCIAL INFORMATION REAL ASSET ACQUISITION CORP.CONDENSED BALANCE SHEETS (1)The calculation of basic and diluted net income (loss) per ordinary share for the three months ended March 31, 2025 excluded750,000 Class B ordinary shares that were subject to forfeiture if the over-allotment option was not exercised in full or in part bythe Underwriters (see Note 6). On April 30, 2025, the Underwriters’ over-allotment option was exercised in full simultaneously The accompanying notes are an integral part of these unaudited condensed financial statements. The accompanying notes are an integral part of these unaudited condensed financial statements. REAL ASSET ACQUISITION CORP.NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS NOTE 1. DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS AND GOING CONCERN Real Asset Acquisition Corp. (the “Company”) is a blank check company incorporated on December 9, 2024 as a Cayman Islandsexempted company. The Company was formed for the purpose of entering into a merger, share exchange, asset acquisition, sharepurchase, reorganization or similar business combination with one or more businesses (a “Business Combination”). The Company is As of March 31, 2026, the Company had not commenced any operations. All activity for the period from December 9, 2024(inception) through March 31, 2026 relates to the Company’s formation and initial public offering (“Initial Public Offering”), andidentifying a target for the Business Combination (defined below). The Company will not generate any operating revenues until afterthe completion of a Business Combination, at the earliest. The Company will generate non-operating income in the form of interest The registration statement for the Company’s Initial Public Offering was declared effective on April 28, 2025. On April 30, 2025, theCompany consummated the Initial Public Offering of 17,250,000 units (the “Units” and, with respect to the Class A ordinary sharesincluded in the Units sold, the “Public Shares”), including 2,250,000 Units issued pursuant to the exercise of the Underwriters’ (asdefined below) over-allotment option in full, generating gross proceeds of $172,500,000 (see Note 3). Each Unit consists of one Class Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 5,450,000 warrants at a price of$1.00 per warrant (the “Private Placement Warrants”), generating gross proceeds of $5,450,000. Of the 5,450,000 Private PlacementWarrants, (i) Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC (the “Representative”), purchased1,466,250 Private Placement Warrants, (ii) Clear Street LLC (“Clear Street” and together with the Representative, the “Underwriters”) Following the closing of the Initial Public Offering on April 30, 2025, an amount of $172,500,000 from the net proceeds of the sale ofthe Units in the Initial Public Offering and the sale of the Private Placement Warrants was placed in a trust account (the “TrustAccount”), to be invested only in U.S. government treasury obligations with maturities of 185 days or less or in money market fundsmeeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940, as amended (the “Investment Company Act”), Transaction costs related to the issuances described above amounted to $10,931,212, consisting of $1,725,000 of cash underwritingfees, $1,725,000 of underwriting fees paid via the issuance of Private Placement Warrants, $6,900,000 of deferred underwriting fees The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial PublicOffering and the sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be appliedgenerally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a BusinessCombination successfully. The Company must complete a Business Combination with one or more target businesses that together havean aggregate fair market value of at least 80% of the Trust Account (excluding the amount of deferred underwriting discounts held inthe Trust Account and taxes paid or payable on the income earned on the Trust Account) at the time of the agreement to enter into the REAL ASSET ACQUISITION CORP.NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS The Company will provide its holders of the outstanding Pu