FIGX Capital Acquisition Corp Unit(FIGXU) - 2025 Q2 - Quarterly Report

PART I. FINANCIAL INFORMATION This section provides the unaudited condensed financial information for FIGX Capital Acquisition Corp., including financial statements, management's discussion, market risk disclosures, and controls and procedures Item 1. Financial Statements This section presents the unaudited condensed financial statements of FIGX Capital Acquisition Corp. for the period ended June 30, 2025, along with detailed notes explaining organization, accounting policies, and specific financial transactions Unaudited Condensed Balance Sheet This statement provides a snapshot of the company's financial position, detailing assets, liabilities, and equity as of June 30, 2025 | Assets/Liabilities/Equity | Amount ($) | | :------------------------ | :--------- | | Assets: | | | Due from Sponsor | 1,754,055 | | Cash held in Trust Account| 150,650,000| | Total Assets | 152,404,055| | Liabilities: | | | Accrued expenses | 60,365 | | Accrued offering costs | 340,802 | | Promissory note – related party | 164,210 | | Deferred underwriting fee payable | 6,419,000 | | Total Liabilities | 6,984,377 | | Equity: | | | Class A ordinary shares subject to possible redemption | 150,650,000| | Total Shareholders' Deficit | (5,230,322)| | Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit | 152,404,055| Unaudited Condensed Statements of Operations This statement outlines the company's financial performance, reporting net loss for the three months and period from inception through June 30, 2025 | Item | Three Months Ended June 30, 2025 ($) | Period from Feb 20, 2025 (Inception) Through June 30, 2025 ($) | | :------------------------ | :----------------------------------- | :------------------------------------------------------------- | | Formation and general and administrative costs | 84,359 | 114,657 | | Loss from Operations | (84,359) | (114,657) | | Share-based compensation expense | (164,499) | (164,499) | | Total other expenses | (164,499) | (164,499) | | Net loss | (248,858) | (279,156) | | Basic and diluted net loss per Class A and Class B ordinary non-redeemable share | (0.07) | (0.09) | Unaudited Condensed Statements of Changes in Shareholders' Deficit This statement tracks the changes in the company's shareholders' deficit from inception through June 30, 2025, reflecting share issuances, net losses, and other equity adjustments | Item | Class A Ordinary Shares (Amount) | Class B Ordinary Shares (Amount) | Additional Paid-in Capital ($) | Accumulated Deficit ($) | Total Shareholders' Deficit ($) | | :------------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :---------------------- | :------------------------------ | | Balance as of Feb 20, 2025 (inception) | — | — | — | — | — | | Class B ordinary shares issued to Sponsor | — | 388 | 24,612 | — | 25,000 | | Net loss (Feb 20 - Mar 31, 2025) | — | — | — | (30,298) | (30,298) | | Balance at March 31, 2025 | — | 388 | 24,612 | (30,298) | (5,298) | | Sale of Private Placement Units | 44 | — | 4,434,656 | — | 4,434,700 | | Fair value of Public Warrants at issuance | — | — | 1,438,708 | — | 1,438,708 | | Allocated value of transaction costs to Class A ordinary redeemable shares | — | — | (106,636) | — | (106,636) | | Share-based compensation | — | — | 164,499 | — | 164,499 | | Accretion for common stock to redemption amount | — | — | (5,955,839) | (4,951,598) | (10,907,437) | | Net loss (Apr 1 - Jun 30, 2025) | — | — | — | (248,858) | (248,858) | | Balance at June 30, 2025 | 44 | 388 | — | (5,230,754) | (5,230,322) | Unaudited Condensed Statement of Cash Flows This statement details the cash inflows and outflows from operating, investing, and financing activities for the period from inception through June 30, 2025 | Cash Flow Activity | Period from Feb 20, 2025 (Inception) Through June 30, 2025 ($) | | :------------------------ | :------------------------------------------------------------- | | Operating Activities: | | | Net loss | (279,156) | | Adjustments: | | | Payment of formation and general and administrative costs through promissory note – related party | 54,292 | | Share-based compensation expense | 164,499 | | Changes in operating assets and liabilities: Accrued expenses | 60,365 | | Net cash used in operating activities | — | | Investing Activities: | | | Investment of cash into Trust Account | (150,650,000) | | Net cash used in by investing activities | (150,650,000) | | Financing Activities: | | | Proceeds from sale of Units, net of underwriting discounts paid | 148,030,000 | | Proceeds from sale of Private Placement Units | 4,434,700 | | Due from Sponsor | (1,754,055) | | Payment of offering costs | (60,645) | | Net cash provided by financing activities | 150,650,000 | | Net Change in Cash | — | | Cash – End of period | — | | Noncash Activities: | | | Offering costs included in accrued offering costs | 340,802 | | Offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares | 25,000 | | Offering costs paid through promissory note – related party | 109,918 | Notes to Unaudited Condensed Financial Statements This section provides detailed explanations and disclosures supporting the unaudited condensed financial statements, covering accounting policies, related party transactions, and commitments NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS FIGX Capital Acquisition Corp. is a blank check company incorporated on February 20, 2025, aiming to complete a Business Combination, primarily in the financial and business services industry - The Company was incorporated on February 20, 2025, as a blank check company to effect a Business Combination, focusing on the financial and business services industry[23] - On June 30, 2025, the Company consummated its Initial Public Offering of 15,065,000 units at $10.00 per unit, generating gross proceeds of $150,650,000, including the full exercise of the over-allotment option[26] - Simultaneously, 443,470 Private Placement Units were sold to the Sponsor and Cantor at $10.00 per unit, generating gross proceeds of $4,434,700[26] - Transaction costs totaled $9,575,365, comprising a $2,620,000 cash underwriting fee, $6,419,000 deferred underwriting fee, and $536,365 in other offering costs[27] - A total of $150,650,000 from the net proceeds of the IPO and Private Placement Units is held in a Trust Account, to be released upon completion of a Business Combination or redemption of public shares[31] NOTE 2. SIGNIFICANT ACCOUNTING POLICIES This section details the significant accounting policies adopted by FIGX Capital Acquisition Corp., including its basis of presentation under GAAP for interim financial information and specific policies for estimates, cash in trust, and share-based compensation - The financial statements are prepared in accordance with GAAP for interim financial information and SEC regulations, with certain disclosures condensed or omitted[41] - The Company is an 'emerging growth company' and has elected to use the extended transition period for complying with new or revised financial accounting standards[44](index=44&