Real Asset Acquisition director converts 25K shares
Real Asset Acquisition Corp. director Mark A. Smith reported share reclassification and exchange tied to the closing of the company’s initial business combination with IQM Quantum Computers Oyj on July 1, 2026.
Rhea-AI Filing Summary
Real Asset Acquisition Corp. director Mark A. Smith reported share reclassification and exchange tied to the closing of the company’s initial business combination with IQM Quantum Computers Oyj on July 1, 2026. Smith converted 25,000 Class B ordinary shares into 25,000 Class A ordinary shares at $0.0000 per share, then disposed of those 25,000 Class A shares to the issuer as they were cancelled and exchanged on a one-to-one basis for IQM ordinary shares under the Business Combination Agreement dated February 22, 2026, leaving him with no Class A or Class B shares of Real Asset Acquisition Corp.
Positive
- None.
Negative
- None.
Insider Trade Summary
25,000 shares exercised/converted
Exercise
3 txns
Insider
Smith Mark A.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Ordinary Shares F1 | 25,000 | $0.00 | $0.00 |
| Conversion | Class A Ordinary Shares F1 | 25,000 | -- | -- |
| Disposition | Class A Ordinary Shares F2 | 25,000 | -- | -- |
Holdings After Transaction:
Class B Ordinary Shares — 0 contracts (Direct);
Class A Ordinary Shares — 0 shares (Direct)
Footnotes (2)
- F1. 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.
- F2. 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
Class B shares converted: 25,000 shares
Class A shares received from conversion: 25,000 shares
Class A shares disposed to issuer: 25,000 shares
+3 more
6 metrics
Class B shares converted
25,000 shares
Class B Ordinary Shares converted into Class A on July 1, 2026
Class A shares received from conversion
25,000 shares
Resulting Class A Ordinary Shares from one-to-one conversion of Class B
Class A shares disposed to issuer
25,000 shares
Disposition to issuer as shares cancelled and exchanged for IQM ordinary shares on July 1, 2026
Conversion price per share
$0.0000 per share
Conversion of 25,000 Class B Ordinary Shares into Class A Ordinary Shares
Business Combination Agreement date
February 22, 2026
Date of Business Combination Agreement among issuer and IQM Quantum Computers Oyj
Business combination closing date
July 1, 2026
Closing date when initial business combination with IQM was consummated
Key Terms
Business Combination Agreement, initial business combination, derivative security, Class A Ordinary Shares, +1 more
5 terms
Business Combination Agreement regulatory
"Pursuant to the Business Combination Agreement by and among the Issuer, IQM"
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 regulatory
"the Issuer consummated its initial business combination 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.
derivative security financial
"transaction_code_description": "Conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
What insider transactions did Mark A. Smith report for Real Asset Acquisition Corp. (RAAQ)?
Mark A. Smith reported converting 25,000 Class B ordinary shares into 25,000 Class A ordinary shares at $0.0000 per share, then disposing of those 25,000 Class A shares to the issuer as part of their cancellation and exchange for IQM ordinary shares at the business combination closing.
How is Real Asset Acquisition Corp. (RAAQ) linked to IQM Quantum Computers Oyj in this Form 4?
The transactions occurred on the closing of Real Asset Acquisition Corp.’s initial business combination with IQM Quantum Computers Oyj on July 1, 2026, under a Business Combination Agreement dated February 22, 2026, which converted and then exchanged the reported shares for IQM ordinary shares.
What was the disposition reported by Mark A. Smith in Real Asset Acquisition Corp. (RAAQ)?
Smith reported a disposition to the issuer of 25,000 Class A ordinary shares of Real Asset Acquisition Corp. on July 1, 2026, when those Class A shares were cancelled and exchanged for IQM ordinary shares pursuant to the Business Combination Agreement, resulting in zero Class A shares remaining.
What are Mark A. Smith’s Real Asset Acquisition Corp. (RAAQ) holdings after these transactions?
Following the July 1, 2026 transactions, Form 4 shows 0 Class B ordinary shares and 0 Class A ordinary shares of Real Asset Acquisition Corp. held directly by Mark A. Smith, as the 25,000 Class A shares were cancelled and exchanged for IQM ordinary shares.
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