other material
confidence high
sentiment neutral
materiality 0.60
FMAC closes IPO of 11.2M units at $10 each, raises $112M gross; trust funded with $112.56M
Future Money Acquisition Corp
- IPO of 11,200,000 units at $10.00 per unit, gross proceeds $112,000,000; units include one ordinary share and one right.
- Private placement of 304,000 units to sponsor Future Wealth Capital Corp. at $10.00 per unit, netting $3,040,000.
- Total $112,560,000 deposited in trust account held by Equiniti Trust Company, with $10.05 per unit redemption value.
- Audited balance sheet shows $640,072 cash outside trust; working capital $547,908; shareholders' deficit $547,908.
- Going concern note: SPAC has 15 months (to June 30, 2027) to complete initial business combination or liquidate.