Real Asset Acquisition (RAAQ) director swaps SPAC shares in IQM deal
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Real Asset Acquisition Corp. director Neal Robert converted 25,000 Class B ordinary shares into 25,000 Class A ordinary shares on July 1, 2026, in connection with a business combination with IQM Quantum Computers Oyj. Those 25,000 Class A shares were then disposed to the issuer and exchanged one-for-one for IQM ordinary shares, leaving him with no Class A holdings in Real Asset Acquisition.
Positive
- None.
Negative
- None.
Insider Trade Summary
25,000 shares exercised/converted
Mixed
3 txns
Insider
NEAL ROBERT
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Ordinary Shares | 25,000 | $0.00 | -- |
| Conversion | Class A Ordinary Shares | 25,000 | -- | -- |
| Disposition | Class A Ordinary Shares | 25,000 | -- | -- |
Holdings After Transaction:
Class B Ordinary Shares — 0 shares (Direct);
Class A Ordinary Shares — 25,000 shares (Direct)
Footnotes (1)
- Pursuant to the Business Combination Agreement by and among the Issuer, IQM Quantum Computers Oyj ("IQM"), IQM US LLC and ECLIPSE QC S.A .r.l. dated as of February 22, 2026 (the "BCA"), on July 1, 2026 (the "Closing Date"), the Issuer consummated its initial business combination with IQM (the "Business Combination"). On the Closing Date, each Class B ordinary share of the Issuer was automatically converted into Class A ordinary shares of the Issuer on a one-to-one basis. Pursuant to the BCA, on the Closing Date, each Class A ordinary share of the Issuer was cancelled and exchanged for IQM ordinary shares on a one-to-one basis.
Key Figures
Converted Class B shares: 25,000 shares
Class A shares acquired: 25,000 shares
Class A shares disposed to issuer: 25,000 shares
+2 more
5 metrics
Converted Class B shares
25,000 shares
Class B ordinary shares converted into Class A on July 1, 2026
Class A shares acquired
25,000 shares
Class A ordinary shares received from derivative conversion on July 1, 2026
Class A shares disposed to issuer
25,000 shares
Class A ordinary shares cancelled and exchanged for IQM ordinary shares under the Business Combination Agreement
Class A holdings after transactions
0 shares
Director’s remaining Class A ordinary shares of Real Asset Acquisition after July 1, 2026
Conversion price
0.0000 per share
Conversion of Class B ordinary shares into Class A ordinary shares
Key Terms
Business Combination Agreement, initial business combination, Disposition to issuer, Conversion of derivative security
4 terms
Business Combination Agreement financial
"Pursuant to the <b>Business Combination Agreement</b> by and among the Issuer..."
A business combination agreement is a detailed contract that lays out the terms for two companies to join together—covering price, how ownership will be split, the steps needed to close the deal, and what each side promises to do or avoid before closing. For investors it matters because the agreement determines potential changes in value, control, timing, and risk exposure—think of it like the playbook for a merger that shows who wins, who pays, and what could still derail the plan.
initial business combination financial
"the Issuer consummated its <b>initial business combination</b> with IQM"
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
Disposition to issuer financial
"transaction_code_description: "<b>Disposition to issuer</b>""
Conversion of derivative security financial
"transaction_code_description: "<b>Conversion of derivative security</b>""
FAQ
What insider transactions did Real Asset Acquisition Corp. (RAAQ) report for Neal Robert?
Director Neal Robert converted 25,000 Class B ordinary shares into 25,000 Class A shares, then disposed of those 25,000 Class A shares to the issuer on July 1, 2026, as part of a business combination, ending with no Class A holdings.
Were the RAAQ transactions by Neal Robert open-market buys or sales?
They were not open-market trades. The Form 4 shows a conversion of Class B into Class A shares and a disposition to the issuer of Class A shares, all executed pursuant to a Business Combination Agreement rather than through market purchases or sales.