FIGX Capital Acquisition Corp Unit(FIGXU) - 2025 Q3 - Quarterly Report

IPO and Financial Proceeds - The company completed its Initial Public Offering (IPO) on June 30, 2025, raising gross proceeds of $150,650,000 from the sale of 15,065,000 Public Units at a price of $10.00 per unit[113]. - The company incurred total costs of $9,575,365 related to the IPO, including a cash underwriting fee of $2,620,000 and a Deferred Underwriting Fee of $6,419,000[121]. Financial Position and Income - As of September 30, 2025, the company had approximately $152,246,061 in marketable securities held in the Trust Account, including $1,596,061 of interest earned[123]. - For the three months ended September 30, 2025, the company reported a net income of $1,436,792, primarily from interest earned on investments held in the Trust Account[119]. - As of September 30, 2025, cash used in operating activities was $730,898, with a net income of $1,157,636[122]. - The company has not generated any operating revenues to date and will not do so until after the completion of its initial Business Combination[118]. Business Combination and Operations - The company has until June 30, 2027, to complete its Business Combination, or it will cease operations and redeem Public Shares[116]. - The company may seek to extend the Combination Period, which would require approval from Public Shareholders[117]. Shareholder Rights and Accounting - The company will not propose any amendments to its Articles that affect shareholder rights or redemption obligations without providing shareholders the opportunity to redeem their shares at a price equal to the amount in the Trust Account[136]. - Class A Ordinary Shares subject to possible redemption are classified as temporary equity and presented at redemption value outside of shareholders' equity[139]. - Net income (loss) per Ordinary Share is calculated using the two-class method, with accretion associated with redeemable Class A Ordinary Shares excluded from earnings per share calculations[140]. Accounting Standards and Estimates - The company adopted ASU 2023-07 on February 20, 2025, which requires annual and interim disclosures of significant segment expenses and other segment items[141]. - Management believes that no recently issued accounting standards will materially affect the financial statements if adopted[142]. - As of September 30, 2025, the company did not have any critical accounting estimates to disclose, indicating a stable financial reporting environment[138]. Administrative Costs - The company has incurred $30,000 in fees for administrative services from the Sponsor from inception through September 30, 2025[130]. - The company has no long-term debt or capital lease obligations as of September 30, 2025[130].