NEAL ROBERT 4
4 · Real Asset Acquisition Corp. · Filed Jul 16, 2026
Research Summary
AI-generated summary of this filing
Real Asset Acquisition (RAAQ) Director Neal Robert Disposes 25,000 Shares
What Happened Neal Robert, a director of Real Asset Acquisition Corp. (RAAQ), disposed of 25,000 RAAQ shares on July 1, 2026. The filing shows related entries for conversion of derivative securities and a disposition to the issuer; no cash proceeds were reported (one conversion listed at $0.00). These actions occurred as part of RAAQ’s closing of its business combination with IQM Quantum Computers Oyj.
Key Details
- Transaction date: July 1, 2026 (reported on Form 4 filed July 16, 2026).
- Reported transactions: conversion(s) of derivative security and a disposition to the issuer, each showing 25,000 shares (reported across related entries).
- Price/value: no cash proceeds reported; one conversion entry lists $0.00.
- Shares owned after transaction: not stated in the filing.
- Footnotes: F1 — On the closing date each Class B RAAQ share converted into a Class A share one-for-one. F2 — Each Class A share was then cancelled and exchanged for IQM ordinary shares one-for-one under the Business Combination Agreement.
- Timeliness: The Form 4 was filed 15 days after the transaction (Form 4s are normally due within 2 business days), so the filing appears late.
Context These entries reflect corporate reclassification and exchange actions tied to the business combination (not an open-market sale). The director did not report receiving cash proceeds — the RAAQ shares were converted/cancelled and exchanged for IQM shares under the merger agreement. Such conversion/exchange transactions are procedural steps in a SPAC/business-combination closing rather than straightforward buy or sell signals.
Insider Transaction Report
- Conversion
Class A Ordinary Shares
[F1]2026-07-01−25,000→ 25,000 total - Disposition to Issuer
Class A Ordinary Shares
[F2]2026-07-01−25,000→ 0 total - Conversion
Class B Ordinary Shares
[F1]2026-07-01−25,000→ 0 total→ Class A Ordinary Shares (25,000 underlying)
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.