secwatch.observer — SEC 8-K summary
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Issuer:     Real Asset Acquisition Corp. (RAAQ)
CIK:        0002052161
Form:       8-K
Filed at:   2026-02-23T23:59:59+00:00
Accession:  0001213900-26-019008
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SPAC RAAQ to combine with quantum-computing firm IQM; $134M PIPE at $10/ADS
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- Each RAAQ Class A share converts to one IQM ADS; RAAQ warrants assumed by IQM.
- Minimum cash condition: aggregate transaction proceeds must be >= $150M.
- PIPE investors commit ~13.4M IQM ADS at $10/ADS for aggregate ~$134M.
- Sponsor to forfeit up to 1,375,000 Class B shares and up to 3,725,000 warrants based on trust proceeds.
- IQM shareholders subject to one-year lock-up; release if IQM ADS price >=$12 for 20 of 30 days after 150 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2052161/000121390026019008/0001213900-26-019008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2052161/000121390026019008/ea0277397-8k425_realasset.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-019008

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