Real Asset Acquisition Corp (RAAQ) is a blank-check special purpose acquisition company (SPAC) incorporated in the Cayman Islands that was formed to identify and complete a merger or acquisition with one or more target businesses. It generates no operating revenue. Instead, proceeds from its Initial Public Offering are held in a Trust Account, with net earnings on marketable securities held in that Trust Account representing the company's only income during its search period, as reported in the fiscal year ended December 31, 2025 (10-K filed 2026-03-03). The company is classified as an emerging growth company under the JOBS Act. Management has identified going concern risk, noting that mandatory liquidation, if no Business Combination is completed, would occur after October 30, 2026 (or January 30, 2027 under an extension), as disclosed in the fiscal year ended December 31, 2025 filing.

Revenue model

No operating revenue. Income during the pre-combination period consists solely of net earnings on marketable securities held in the Trust Account and net earnings on cash equivalents held in the Operating Account, as reported for the fiscal year ended December 31, 2025.

Products and services

Public Units (Class A ordinary shares and public warrants), Private Placement Warrants, and Founder Shares (Class B ordinary shares). The sole corporate objective is completing an initial Business Combination with a target company focused on real assets.

Customers and end markets

Public shareholders and warrant holders who participated in the IPO. No end-market customers in the conventional sense. Target acquisition focus described as real assets, per the company name, though no specific target has been identified as of the filing date.

Value-chain role

Blank-check acquisition vehicle. Raises capital via IPO, holds proceeds in trust, and seeks to deploy capital through a single Business Combination transaction.

Geographic exposure

Incorporated in the Cayman Islands. May pursue targets in any jurisdiction. No operating geographic footprint disclosed as of December 31, 2025.

Source: SEC 10-K, filed 2026-03-03

Industry: Blank Checks