Rithm Acquisition Corp.

RAC: 10-Q · periodic report

Rithm Acquisition Corp. is a pre-deal SPAC that has not yet commenced any operations. The company's primary activities to date have been organizational and identifying a target for a Business Combination. As of March 31, 2026, the company had a cash position of $155,428 and cash held in the Trust Account of $240,654,033. The company reported a net income of $4,193,618 for the six months ended March 31, 2026, primarily from interest earned on the Trust Account. The company has incurred general and administrative costs of $476,812 for the same period. The company's management has broad discretion over the use of the net proceeds from the initial public offering and the sale of private placement units, which are intended to be used for a Business Combination. The company must complete a Business Combination by February 28, 2027, or it will liquidate and dissolve. The company's going concern status is uncertain due to its lack of liquidity and the significant costs it expects to incur in pursuit of a Business Combination.

SEC 10-Q•5mo ago