Willkie Advises 1RT on $172 Million Initial Public Offering

July 14, 2025

On July 3, 1RT Acquisition Corp. consummated the IPO of 17,250,000 units, including the issuance of 2,250,000 units as a result of the underwriter's partial exercise of its over-allotment option. Each unit consists of one Class A ordinary share, $0.0001 par value, and one-quarter of one redeemable warrant entitling its holder to purchase one Class A ordinary share at a price of $11.50 per share. The units were sold at an offering price of $10.00 per unit, generating gross proceeds of $172,500,000. The units were listed on The Nasdaq Capital Market and began trading under the ticker symbol "ONCHU" on July 2, 2025.

Simultaneously with the closing of the IPO, 1RT consummated the private placement with its sponsor of an aggregate of 1,500,000 warrants, and with the representative of the underwriters of an aggregate of 750,000 warrants, each at a price of $2.00 per warrant, generating total proceeds of $4,500,000.

1RT is a new blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While 1RT may pursue an acquisition opportunity in any industry or sector, it intends to focus on digital assets and technology-enabled businesses, particularly those in the cryptocurrency, blockchain, and fintech sectors.

The Willkie deal team was led by Sean Ewen and Andrew Marmer, and included partner Russell Pinilis; and associates Katelyn Merick, Candace Mashel, Dana Lake, Emma Danziger, and Shay Moyal.

Related Locations

New York

787 Seventh Avenue
New York , NY 10019-6099

Washington

1875 K Street, N.W.
Washington , DC 20006-1238

Houston

600 Travis Street
Houston , TX 77002