RDAGLOW SIGNALOPERATIONAL10-Q

RDAG's Q3 2025 10-Q shows routine quarterly progression for a newly public SPAC that completed its IPO in May 2025 and continues searching for acquisition targets.

This is a standard quarterly filing update for a recently formed SPAC, with language changes simply reflecting the passage of time from Q2 to Q3 2025. The company remains in its target identification phase with no material developments in its business combination search, which is typical for SPACs in their early months post-IPO.

Comparing 2025-11-14 vs 2025-08-14View on EDGAR →
FINANCIAL ANALYSIS

The financial changes reflect normal SPAC dynamics in the months following IPO, with net income increasing 173% to $4.9M primarily due to higher interest income from the trust account, while operating losses widened modestly to $246K from ongoing administrative expenses. The overall financial picture shows a healthy cash position generating investment returns while the company incurs expected operational costs during its target search phase.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+173.3%
$1.8M→$4.9M

Net income grew 173.3% — bottom-line growth signals improving overall business health.

Operating Income
P&L
-41.3%
-$174K→-$246K

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

LANGUAGE CHANGES
NEW — 2025-11-14
PRIOR — 2025-08-14
ADDED
The Company has not selected any specific Business Combination target.
As of September 30, 2025, the Company has not commenced any operations.
All activity for the period from January 23, 2025 (inception) through September 30, 2025 relates to the Company s formation, the Initial Public Offering (as defined below) consummated on May 1, 2025 and subsequent to the Initial Public Offering, identifying a target company for a Business Combination.
The Registration Statement on Form S-1 for the Initial Public Offering, initially filed with the U.S.
Securities and Exchange Commission (the SEC ) on February 28, 2025, as amended (File No.
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REMOVED
1 Unaudited Condensed Balance Sheet as of June 30, 2025 1 Unaudited Condensed Statements of Operations for the Three Months Ended June 30, 2025 and for the Period from January 23, 2025 (Inception) Through June 30, 2025 2 Unaudited Condensed Statements of Changes in Shareholders Deficit for the Three Months Ended June 30, 2025 and for the Period from January 23, 2025 (Inception) Through June 30, 2025 (Unaudited) 3 Unaudited Condensed Statement of Cash Flows for the Period from January 23, 2025 (Inception) Through June 30, 2025 4 Notes to Condensed Financial Statements (Unaudited) 5 Item 2.
333-285386); JOBS Act are to the Jumpstart Our Business Startups Act of 2012; Management or our Management Team are to our executive officers and our directors; ii Nasdaq are to the Nasdaq Global Market; Nasdaq 36-Month Requirement are to the requirement pursuant to the Nasdaq Rules (as defined below) that a SPAC (as defined below) must complete one or more Business Combinations within 36 months following the effectiveness of its initial public offering registration statement; Nasdaq Rules are to the continued listing rules of Nasdaq, as they exist as of the date of this Report.
The Company has not selected any specific Business Combination target, and the Company has not, nor has anyone on its behalf, engaged in any substantive discussions, directly or indirectly, with any Business Combination target with respect to an initial Business Combination with the Company.
As of June 30, 2025, the Company has not commenced any operations.
All activity for the period from January 23, 2025 (inception) through June 30, 2025 relates to the Company s formation, the initial public offering consummated on May 1, 2025 (the Initial Public Offering ), which is described below in Note 3, and subsequent to the Initial Public Offering, identifying a target company for a Business Combination.
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