IPO and Fundraising - The company completed its Initial Public Offering on June 30, 2025, raising gross proceeds of $150,650,000 from the sale of 15,065,000 Public Units at $10.00 each, including the full exercise of the Over-Allotment Option [109]. - An additional $4,434,700 was raised from the sale of 443,470 Private Placement Units at $10.00 each, simultaneously with the IPO [109]. - The company incurred total offering costs of $9,575,365, which includes a cash underwriting fee of $2,620,000 and a Deferred Underwriting Fee of $6,419,000 [118]. Financial Performance - As of June 30, 2025, the company had a net loss of $30,298, primarily due to formation and general administrative costs, with no revenues generated to date [115]. - The company has not engaged in any operations or generated revenues since its inception on February 20, 2025, focusing solely on organizational activities and identifying acquisition candidates [114]. Use of Funds - The company intends to use substantially all funds in the Trust Account to complete its Business Combination, with remaining proceeds allocated for working capital [120]. - The company does not anticipate needing to raise additional funds for operating expenses but may require financing for the Business Combination or to redeem Public Shares [124]. Debt and Obligations - The company has no long-term debt or capital lease obligations, with only a monthly payment of $10,000 for administrative services until the completion of the initial Business Combination [127]. - The company has borrowed $164,210 under the IPO Promissory Note, which is due on demand [112]. Business Combination - The company may seek to extend the Combination Period, requiring approval from Public Shareholders, which could affect its Nasdaq listing if not completed within the required timeframe [108].
FIGX Capital Acquisition Corp Unit(FIGXU) - 2025 Q1 - Quarterly Report