FutureCrest Acquisition Corp. Completes $287,500,000 Initial Public Offering

Rhea-AI Summary

FutureCrest Acquisition Corp. (NYSE:FCRS) has successfully completed its initial public offering, raising $287.5 million in gross proceeds through the sale of 28.75 million units at $10.00 per unit. Each unit comprises one Class A ordinary share and one-quarter of one redeemable warrant, with whole warrants exercisable at $11.50 per share.

The SPAC's units began trading on the NYSE under "FCRS.U" on September 26, 2025, with Class A shares and warrants to trade separately under "FCRS" and "FCRS WS" respectively. The entire IPO proceeds of $287.5 million have been placed in trust. The company aims to pursue business combinations in AI, digital assets, fintech, infrastructure, robotics and communications industries, led by CEO Thomas J. Lee and CFO Chi Tsang.

Positive

• Successfully raised $287.5 million through IPO, including full exercise of over-allotment option
• 100% of IPO proceeds ($10.00 per unit) secured in trust account
• Management team includes experienced leaders from technology and finance sectors
• Strategic focus on high-growth sectors including AI, fintech, and digital assets

Negative

• No specific acquisition target identified yet
• Success depends on finding suitable merger target within limited timeframe
• Investors face uncertainty until business combination is completed
• Warrant dilution potential at $11.50 exercise price

Insights

Financial Markets Expert

FutureCrest has raised $287.5M through its SPAC IPO, targeting acquisitions in tech-forward sectors like AI, fintech and digital assets.

FutureCrest Acquisition Corp. has successfully completed its $287,500,000 IPO, pricing 28.75 million units at $10.00 each. The offering included a fully exercised over-allotment option of 3.75 million additional units, indicating strong initial demand from investors. Each unit contains one Class A ordinary share and a quarter warrant exercisable at $11.50.

This blank check company, trading under ticker FCRS, has placed 100% of its IPO proceeds into trust, giving shareholders full protection of their capital while management searches for acquisition targets. FutureCrest plans to focus on businesses in cutting-edge sectors including AI, digital assets, fintech, infrastructure, robotics and communications - all high-growth areas with significant disruption potential.

The SPAC's leadership includes Thomas J. Lee as CEO and Chi Tsang as CFO, with a board featuring experienced investors like Eric Semler and Seth Ginns. Cantor Fitzgerald served as the sole book-runner, providing institutional backing to the offering.

While the SPAC market has cooled considerably since its 2020-2021 peak, FutureCrest's successful raise demonstrates continuing investor appetite for well-structured blank check companies with experienced management targeting attractive tech-forward sectors. The $287.5M war chest positions FutureCrest to pursue meaningful acquisitions in the middle-market technology space.

NEW YORK, Sept. 29, 2025 /PRNewswire/ -- FutureCrest Acquisition Corp. (the "Company") announced today the closing of its initial public offering of 28,750,000 units, which includes 3,750,000 units issued pursuant to the exercise in full by the underwriters of their over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $287,500,000.

The Company's units began trading on September 26, 2025 on the New York Stock Exchange ("NYSE") under the ticker symbol "FCRS.U." Each unit consists of one Class A ordinary share of the Company and one-quarter of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share, subject to certain adjustments. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NYSE under the symbols "FCRS" and "FCRS WS," respectively.

Of the proceeds received from the consummation of the initial public offering (including the exercise of the over-allotment option) and a simultaneous private placement of warrants, $287,500,000 (or $10.00 per unit sold in the offering) was placed in a trust account of the Company.

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry but expects to focus on a target in the AI, digital assets, fintech, infrastructure, robotics and communications industries.

The Company's management team is led by Thomas J. Lee, the Chief Executive Officer and Director, and Chi Tsang, its Chief Financial Officer and Director. The Board of Directors also includes Eric Semler, Seth Ginns, Sam Englebardt and David E. Sharbutt.

Cantor Fitzgerald & Co. acted as sole book-running manager for the offering.

A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on September 25, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-looking statements

This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds of the initial public offering and the simultaneous private placement. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the Company's offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

View original content:https://www.prnewswire.com/news-releases/futurecrest-acquisition-corp-completes-287-500-000-initial-public-offering-302569950.html

SOURCE FutureCrest Acquisition Corp.

FAQ

What is the IPO size of FutureCrest Acquisition Corp (NYSE:FCRS)?

FutureCrest raised $287.5 million through its IPO, selling 28.75 million units at $10.00 per unit, including the full exercise of the over-allotment option.

What industries is FutureCrest (NYSE:FCRS) targeting for acquisition?

FutureCrest is targeting businesses in AI, digital assets, fintech, infrastructure, robotics and communications industries.

What is the structure of FutureCrest (FCRS) IPO units?

Each unit consists of one Class A ordinary share and one-quarter of one redeemable warrant. Each whole warrant allows purchase of one Class A share at $11.50 per share.

Who are the key executives leading FutureCrest Acquisition Corp?

The SPAC is led by Thomas J. Lee as CEO and Director, and Chi Tsang as CFO and Director.

How much of FutureCrest's (FCRS) IPO proceeds are held in trust?

100% of the IPO proceeds ($287.5 million) have been placed in a trust account, representing $10.00 per unit.