Financial Performance - The company generated a net income of $2,404,209 from June 9, 2025, to December 31, 2025, primarily from interest earned on marketable securities held in the Trust Account, totaling $2,805,113[136]. - The company incurred net cash used in operating activities of $608,179 during the period from June 9, 2025, to December 31, 2025[142]. - As of December 31, 2025, the company had cash and marketable securities in the Trust Account amounting to $290,305,113, including approximately $2,805,113 of interest income[143]. Initial Public Offering - The company completed its Initial Public Offering on September 29, 2025, raising gross proceeds of $287,500,000 from the sale of 28,750,000 Units[140]. - A total of $287,500,000 was placed in the Trust Account following the Initial Public Offering, with total offering costs amounting to $17,861,874[141]. Debt and Financing - The company does not have any long-term debt or off-balance sheet financing arrangements as of December 31, 2025[147]. - The company may need to obtain additional financing to complete its Business Combination or if a significant number of Public Shares are redeemed[146]. Business Combination - The company intends to use substantially all funds in the Trust Account to complete its Business Combination and for working capital of the target business[143]. - The company may seek to extend the Combination Period, which would require approval from Public Shareholders and could affect its capitalization[134]. - The SEC's 2024 SPAC Rules may materially affect the company's ability to negotiate and complete its initial Business Combination[133].
FutureCrest Acquisition(FCRSU) - 2025 Q4 - Annual Report