RDAGWLOW SIGNALOPERATIONAL10-Q

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

The language changes show standard quarterly updates for a SPAC that has not yet identified or begun substantive discussions with potential business combination targets. The company remains in its typical pre-acquisition phase, with operations limited to target identification activities since its May 2025 IPO that raised $300 million.

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

The financial changes reflect normal SPAC operations with current liabilities growing modestly to $114K and net income declining to $2.6M from $3.1M in the prior period. These changes are consistent with ongoing operational expenses and interest income fluctuations typical for a SPAC managing its trust account proceeds while seeking acquisition opportunities.

FINANCIAL STATEMENT CHANGES
Current Liabilities
Balance Sheet
+41.5%
$80K$114K

Current liabilities surged 41.5% — significant near-term obligations; verify ability to meet short-term debt.

Net Income
P&L
-17.5%
$3.1M$2.6M

Net income declined 17.5% — review whether driven by operations, interest costs, or non-recurring items.

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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