Rithm Acquisition Corp. Reports $2.34 Million Net Income for Q2 2025

Rithm Acquisition Corp. has reported its financial results for the three months ending June 30, 2025, revealing a net income of $2.34 million, primarily driven by interest income from cash held in its Trust Account. This figure represents a significant increase compared to the net income of $2.98 million for the period from its inception on November 21, 2024, through June 30, 2025. The company generated $2.56 million in interest income during the latest quarter, while general and administrative expenses totaled $216,896, leading to a loss from operations of $216,895 for the quarter.

The company’s balance sheet as of June 30, 2025, shows total assets of approximately $234.52 million, with $233.37 million held in a Trust Account. This Trust Account is designated for use in a future business combination, which is the primary goal of Rithm Acquisition Corp. The company has current liabilities of $177,433 and deferred underwriting fees payable of $8.05 million. The total shareholders' deficit stands at approximately $7.08 million, reflecting the company's early-stage status and ongoing operational costs.

Rithm Acquisition Corp. successfully completed its Initial Public Offering (IPO) on February 28, 2025, raising gross proceeds of $230 million from the sale of 23 million units, which included the full exercise of an over-allotment option. Additionally, the company raised $6.6 million from the sale of 660,000 Private Placement Units to its sponsor. The IPO proceeds are intended to fund a business combination, with management having broad discretion over their application. The company has incurred total offering costs of $13.31 million, which includes underwriting fees and other expenses.

As of the end of the reporting period, Rithm Acquisition Corp. had cash of $819,538 available for operational expenses, while the Trust Account funds are restricted for use in a business combination. The company has not yet identified a target for its business combination but is actively pursuing opportunities. Management has indicated that it expects to continue incurring significant costs in this pursuit, raising concerns about liquidity and the ability to sustain operations for at least one year without a successful business combination.

Looking ahead, Rithm Acquisition Corp. acknowledges the uncertainty surrounding its ability to complete a business combination within the designated timeframe. If it fails to do so, the company plans to wind down operations and redeem public shares at a price equal to the amount held in the Trust Account. The management's strategy remains focused on identifying a suitable target for acquisition, with the hope of leveraging the funds raised to facilitate this goal.