1RT Acquisition Corp. Completes $172.5M IPO to Enter Digital Assets
Deal News | Jul 03, 2025 | EIN
1RT Acquisition Corp., a blank check company, has successfully completed its initial public offering, garnering $172.5 million in gross proceeds. The offering included 17,250,000 units priced at $10.00 each, with 2,250,000 of these units stemming from the full exercise of the underwriters' over-allotment option. Now trading on the Nasdaq Global Market under 'ONCHU', each unit consists of a Class A ordinary share and a quarter redeemable warrant. The company's management aims to leverage its expertise in digital assets to target growth-oriented businesses within cryptocurrency, blockchain, and fintech sectors. The offering was managed by Cantor Fitzgerald & Co. and co-managed by Roberts & Ryan, Inc. The management team, led by CEO Dan Tapiero and CFO Joe Majocha, brings extensive experience in digital asset sectors. The company aims to execute a business combination with a business poised for further growth.
Sectors
- Financial Services
- Digital Assets and Cryptocurrency
- Technology
Geography
- United States – The IPO was conducted in the U.S., and the company will be trading on Nasdaq, a U.S.-based exchange.
Industry
- Financial Services – The article discusses a financial operation involving an initial public offering (IPO), which is a part of the broader financial services industry.
- Digital Assets and Cryptocurrency – 1RT Acquisition Corp. is targeting businesses in the digital assets, cryptocurrency, and fintech sectors, making this a relevant industry classification.
- Technology – Given the focus on technology-enabled businesses within the cryptocurrency and blockchain arenas, this industry classification is pertinent.
Financials
- $172,500,000 – Gross proceeds from the initial public offering.
- $10.00 – Price per unit in the IPO.
- $11.50 – Exercise price per share for the warrants.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| 1RT Acquisition Corp. | Target company | Company | The blank check company completing its IPO to engage in mergers within the digital asset sector. |
| Dan Tapiero | Chief Executive Officer and Chairman of the Board | Person | CEO and head of the management team with comprehensive expertise in digital assets. |
| Joe Majocha | Chief Financial Officer | Person | Part of the management team responsible for the financial strategies of the company. |
| Cantor Fitzgerald & Co. | Sole book-running manager | Company | Managed the IPO process for 1RT Acquisition Corp. |
| Roberts & Ryan, Inc. | Co-manager | Company | Assisted in managing the IPO for 1RT Acquisition Corp. |
| U.S. Securities and Exchange Commission (SEC) | Regulatory Body | Government | Oversaw the registration of 1RT Acquisition Corp.'s IPO. |