FXAC
FXACCIK 0002121703
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FXAC, a blank-check company, files for $75M SPAC IPO at $10 per unit, with insiders holding 30% post-offering
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Latest financial statements
From 10-Q filed Aug 13, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Statement of Operations (Unaudited)
| Description | Three months ended June 30, 2026 |
|---|---|
| General and administrative expenses | 107,685 |
| Loss from operations | (107,685) |
| Other income: | |
| Interest income Bank | 3,259 |
| Interest earned on investments held in Trust Account | 287,137 |
| Total other income | 290,396 |
| Net income | 182,711 |
| Weighted average shares outstanding, ordinary shares subject to possible redemption basic and diluted | 3,280,220 |
| Basic and diluted net income per share, ordinary shares subject to possible redemption | 0.03 |
| Weighted average shares outstanding, non-redeemable ordinary shares basic and diluted | 3,814,127 |
| Basic and diluted net income per share, non-redeemable ordinary shares | 0.03 |
Condensed Balance Sheets
| Description | June 30, 2026 (Unaudited) | March 31, 2026 (Audited) |
|---|---|---|
| Assets: | ||
| Current Assets | ||
| Cash | 574,630 | - |
| Prepaid expenses | 519,893 | - |
| Total Current Assets | 1,094,523 | - |
| Investments held in Trust Account | 87,399,637 | - |
| Deferred offering costs | - | 25,000 |
| Total Assets | 88,494,160 | 25,000 |
| Liabilities, Ordinary Shares Subject to Possible Redemption and Shareholders’ (Deficit) Equity | ||
| Current Liabilities | ||
| Accounts payable and accrued expenses | 14,167 | 4,141 |
| Total Current Liabilities | 14,167 | 4,141 |
| Deferred underwriting fee payable | 4,312,500 | - |
| Total Liabilities | 4,326,667 | 4,141 |
| Commitments and Contingencies – see Note 6 | ||
| Ordinary shares, $0.0001 par value; 500,000,000 shares authorized; 8,625,000 shares subject to possible redemption | 87,399,637 | - |
| Shareholders’ (Deficit) Equity | ||
| Ordinary shares, $0.0001 par value; 500,000,000 shares authorized; 4,006,929 and 3,694,429 shares issued and outstanding as of June 30, 2026 and March 31, 2026, respectively (excluding 8,625,000 shares subject to possible redemption) | 401 | 370 |
| Additional paid-in capital | - | 24,630 |
| Accumulated deficit | (3,232,545) | (4,141) |
| Total Shareholders’ (Deficit) Equity | (3,232,144) | 20,859 |
| Total Liabilities, Ordinary Shares Subject to Possible Redemption and Shareholders’ (Deficit) Equity | 88,494,160 | 25,000 |
Condensed Statement of Cash Flows (Unaudited)
| Description | Three months ended June 30, 2026 |
|---|---|
| Net Income | 182,711 |
| Adjustments to reconcile net income to net cash used in operating activities: | |
| Interest earned on investments held in Trust Account | (287,137) |
| Changes in operating assets and liabilities: | |
| Prepaid expenses | (519,893) |
| Accounts payable and accrued expenses | 10,026 |
| Net cash used in operating activities | (614,293) |
| Cash Flows from Investing Activities: | |
| Purchase of investments held in Trust Account | (87,112,500) |
| Net cash used in investing activities | (87,112,500) |
| Cash Flows from Financing Activities: | |
| Proceeds from initial public offering and over-allotment | 86,250,000 |
| Proceeds from sale of private placement units | 3,125,000 |
| Payment of underwriter compensation | (284,625) |
| Payment of offering costs | (724,092) |
| Advances from related party | 101,240 |
| Repayment of related party advances | (166,100) |
| Net cash provided by financing activities | 88,301,423 |
| Net change in cash | 574,630 |
| Cash, beginning of period | - |
| Cash, end of period | 574,630 |
| Supplemental disclosure of noncash investing and financing activities: | |
| Deferred offering costs charged to shareholders’ equity upon closing of the IPO | 25,000 |
| Offering costs paid by the Sponsor and recorded as related party advances | 64,860 |
| Accretion of ordinary shares subject to possible redemption to redemption value | 7,636,337 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗