FortuneX Acquisition Corp completes IPO of 7.5M units at $10/unit, raising $75M

FortuneX Acquisition Corp

Total gross proceeds $75M from IPO plus $2.975M from sponsor private placement; $75.75M deposited in trust.
Net proceeds from IPO and private placement placed in trust account for benefit of public shareholders; trust balance $75.75M.
Auditor expresses substantial doubt about ability to continue as going concern if no business combination within 12 months.
Transaction costs $4.91M including underwriting commissions and deferred underwriting fees.
Company has until May 26, 2027 to complete business combination or face liquidation.

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