STOCK TITAN

Forefront Tech Holdings corrects IPO trust figure to $100.3M

Except for specified interest releases, the trust funds are held until a business combination or specified redemption event, including failure to complete one within 18 months.

(Neutral)
(Neutral)
Form Type
8-K/A

Rhea-AI Filing Summary

Forefront Tech Holdings Acquisition Corp (FTHA) amended its IPO-closing disclosures, correcting the trust-account deposit to $100,300,000 and the initial business-combination period to 18 months from the IPO closing; the company states these were the actual terms throughout.

At the IPO closing, the company sold 355,000 Sponsor Private Placement Units for $10.00 each, generating $3,550,000 in gross proceeds, and 15,000 Underwriter Private Placement Units to BTIG, LLC for $10.00 each, generating $150,000 in gross proceeds. The trust funds are generally held until a business combination or specified share-redemption events, including if the company does not complete a combination within 18 months, subject to the stated interest exceptions.

Positive

  • None.

Negative

  • None.

Filing Explained

The amendment clarifies that the 15,000 underwriter private-placement securities were completed units like those sold in the IPO—each comprising one Class A ordinary share and one-half warrant—not warrant-only securities; this corrects the earlier report and does not describe a new sale.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 3.02 Unregistered Sales of Equity Securities Securities
The company sold equity securities in a private placement or other unregistered transaction.
Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Trust-account deposit $100,300,000 IPO and private-placement proceeds placed in trust
Business-combination period 18 months From the IPO closing
Sponsor Private Placement Units 355,000 units Sold for $10.00 per unit
Sponsor placement gross proceeds $3,550,000 Sponsor Private Placement Units
Underwriter Private Placement Units 15,000 units Sold to BTIG, LLC for $10.00 per unit
Underwriter placement gross proceeds $150,000 Underwriter Private Placement Units
initial business combination financial
"complete the Company's initial business combination within 18 months"
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
trust account financial
"placed in a U.S.-based trust account"
A trust account is a special bank or brokerage account where assets are held and managed by a designated person or firm (the trustee) for the benefit of another person or group (the beneficiary). It matters to investors because it separates assets from personal or corporate funds, can protect assets, control how and when money is used, and may affect tax or legal rights—think of it as a locked drawer opened only under agreed rules.
Private Placement Units financial
"private sale of an aggregate of 355,000 private placement units"
public shares financial
"redemption of the Company's public shares"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did FTHA place in its trust account?

FTHA placed $100,300,000 of IPO and private-placement proceeds in a U.S.-based trust account. Interest earned on the funds may be released to pay the company's income taxes, and $100,000 of interest may be used for dissolution expenses.

How many private placement units did FTHA sell, and at what price?

FTHA sold 355,000 Sponsor Private Placement Units at $10.00 per unit, generating $3,550,000 in gross proceeds, and 15,000 Underwriter Private Placement Units to BTIG, LLC at $10.00 per unit, generating $150,000 in gross proceeds.

When can FTHA's trust funds be released?

The trust funds are released at the earliest of completion of an initial business combination, specified redemptions of public shares following a shareholder vote on amendments to the company's governing documents, or redemption of public shares if the company cannot complete a business combination within 18 months from the IPO closing, subject to applicable law and the stated interest exceptions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Learn about SEC filing dates
true 0002097986 00-0000000 0002097986 2026-05-01 2026-05-01 0002097986 FTHAU:UnitsEachConsistingOfOneClassOrdinaryShareAndOnehalfOfOneRedeemableWarrantMember 2026-05-01 2026-05-01 0002097986 FTHAU:ClassOrdinarySharesParValue0.0001PerShareMember 2026-05-01 2026-05-01 0002097986 FTHAU:WarrantsEachWholeWarrantExercisableForOneClassOrdinaryShareAtExercisePriceOf11.50PerShareMember 2026-05-01 2026-05-01 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 8-K/A
(Amendment No. 1)

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): May 1, 2026

 

FOREFRONT TECH HOLDINGS Acquisition Corp

(Exact name of registrant as specified in its charter)

 

Cayman Islands   001-43263   N/A
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

Suite 210, 2nd Floor, Windward III, Regatta Office Park, PO Box 500

Grand Cayman, Cayman Islands, KY1-1106

(Address of principal executive offices, including zip code)

 

Registrant’s telephone number, including area code: +1 (302) 406-3060

 

Not Applicable
(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant   FTHAU   Nasdaq Stock Market LLC
Class A ordinary shares, par value $0.0001 per share   FTHA   Nasdaq Stock Market LLC
Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share   FTHAW   Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

EXPLANATORY NOTE

 

This Amendment No. 1 on Form 8-K/A (this “Amendment”) amends the Current Report on Form 8-K filed by Forefront Tech Holdings Acquisition Corp (the “Company”) with the U.S. Securities and Exchange Commission on May 5, 2026 (the “Original 8-K”). This Amendment is being filed to correct certain inadvertent errors in Items 3.02 and 8.01 of the Original 8-K. Specifically, the Original 8-K incorrectly stated that (i) a total of $103,700,000 was deposited into the trust account, when the correct amount was $100,300,000, and (ii) the deadline to complete the Company’s initial business combination was 24 months from the closing of the IPO, when the correct period is 18 months. In addition, Item 3.02 of the Original 8-K contained a duplicative use of the phrase “an aggregate of” in describing the private sale of the Sponsor Private Placement Units and the Underwriter Private Placement Units, and incorrectly described the Underwriter Private Placement Units as identical to the “Warrants sold in the Initial Public Offering” rather than the “Units sold in the IPO.” For the avoidance of doubt, the foregoing corrections conform the disclosure in the Original 8-K to the terms of the IPO as described in the Company’s prospectus dated April 29, 2026 (the “Prospectus”). The actual amount deposited into the trust account and the actual completion period have at all times been as corrected herein. No other changes are being made to the Original 8-K. All other Items in the Original 8-K, including Items 1.01 and 9.01, and their related exhibits, are incorporated herein by reference to the Original 8-K and are not amended hereby.

 

 

 

Item 3.02. Unregistered Sales of Equity Securities.

 

Simultaneously with the closing of the IPO, pursuant to the Sponsor Private Placement Unit Agreement, the Company completed the private sale of an aggregate of 355,000 private placement units (the “Sponsor Private Placement Units”) to the Sponsor at a purchase price of $10.00 per Sponsor Private Placement Unit, generating gross proceeds to the Company of $3,550,000. The Sponsor Private Placement Units are identical to the Units sold in the IPO, except as otherwise disclosed in the Registration Statement. No underwriting discounts or commissions were paid with respect to such sale. The issuance of the Sponsor Private Placement Units was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

 

Simultaneously with the closing of the IPO, pursuant to the Underwriter Private Placement Units Agreement, the Company completed the private sale of an aggregate of 15,000 private placement units (the “Underwriter Private Placement Units”) to BTIG, LLC at a purchase price of $10.00 per Underwriter Private Placement Unit, generating gross proceeds of $150,000. The Underwriter Private Placement Units are identical to the Units sold in the IPO, except as otherwise disclosed in the Registration Statement. No underwriting discounts or commissions were paid with respect to such sale. The issuance of the Underwriter Private Placement Units was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended. 

 

Item 8.01. Other Events.

 

A total of $100,300,000 of the proceeds from the IPO and the sale of the Private Placement Units were placed in a U.S.-based trust account with Odyssey Transfer and Trust Company, acting as trustee. Except with respect to interest earned on the funds held in the trust account that may be released to the Company to pay its income taxes and $100,000 of interest to pay dissolution expenses, the funds held in the trust account will not be released from the trust account until the earliest of (i) the completion of the Company’s initial business combination, (ii) the redemption of any of the Class A Ordinary Shares included in the Units sold in the IPO (the “public shares”) properly submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to redeem 100% of the public shares if it does not complete its initial business combination within 18 months from the closing of the IPO, or such later date as may be approved by the Company’s shareholders in accordance with the Company’s amended and restated memorandum and articles of association (as described in the Prospectus) or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity or (iii) the redemption of the Company’s public shares if it is unable to complete its initial business combination within 18 months from the closing of the IPO, or such later date as may be approved by the Company’s shareholders in accordance with the Company’s amended and restated memorandum and articles of association (as described in the Prospectus), subject to applicable law.

 

On April 29, 2026, the Company issued a press release announcing the pricing of the IPO, a copy of which was previously filed as Exhibit 99.1 to the Original 8-K and is incorporated herein by reference.

 

On May 1, 2026, the Company issued a press release announcing the closing of the IPO, a copy of which was previously filed as Exhibit 99.2 to the Original 8-K and is incorporated herein by reference.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

  

Exhibit No.   Description
1.1*   Underwriting Agreement, dated April 29, 2026, by and between the Registrant and BTIG, LLC, as representative of the underwriters
4.1*   Warrant Agreement, dated April 29, 2026, by and between Odyssey Transfer and Trust Company and the Registrant
10.1*   Letter Agreement, dated April 29, 2026, by and among the Company, its officers, its directors and Next Lion Sponsor Holdings LLC
10.2*   Investment Management Trust Agreement, dated April 29, 2026, by and between Odyssey Transfer and Trust Company and the Registrant
10.3*   Registration Rights Agreement, dated April 29, 2026, by and among the Registrant, the Sponsor, BTIG, LLC and certain security holders
10.4*   Private Placement Units Purchase Agreement dated April 29, 2026, by and among the Registrant and the Sponsor
10.5*   Private Placement Units Purchase Agreement, dated April 29, 2026, by and among the Registrant and BTIG, LLC
10.6*   Administrative Services Agreement, dated April 29, 2026, by and between the Registrant and the Sponsor
10.7*   Indemnity Agreement, dated April 29, 2026, by and between the Company and Peter Bilitsch
10.8*   Indemnity Agreement, dated April 29, 2026, by and between the Company and Muk Siew Peng
10.9*   Indemnity Agreement, dated April 29, 2026, by and between the Company and Lee Chui Sum
10.10*   Indemnity Agreement, dated April 29, 2026, by and between the Company and Roderick Charles Stephan
10.11*   Indemnity Agreement, dated April 29, 2026, by and between the Company and Vittorio Furlan
99.1*   Press Release, dated April 29, 2026
99.2*   Press Release, dated May 1, 2026
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

*Previously filed.

 

1

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  FOREFRONT TECH HOLDINGS ACQUISITION CORP
   
  By: /s/ Peter Bilitsch
    Name: Peter Bilitsch
    Title: Chief Executive Officer

 

Dated: September 24, 2026

 

2

 

Filing Exhibits & Attachments

4 documents

Keep reading