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Forefront Tech Holdings (NASDAQ: FTHAU) completes $100M SPAC IPO

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(Very High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Forefront Tech Holdings Acquisition Corp, a Cayman Islands-based blank check company, has completed its initial public offering of 10,000,000 units at $10.00 each, raising gross proceeds of $100,000,000. Each unit includes one Class A ordinary share and one-half of one redeemable warrant exercisable at $11.50 per share.

The company also sold 355,000 private placement units to its sponsor for $3,550,000 and 15,000 private placement units to BTIG, LLC for $150,000. A total of $103,700,000 from the IPO and private placements was deposited into a U.S.-based trust account to fund a future business combination focused on technology-sector targets.

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Insights

SPAC raises $100M and funds trust to pursue tech acquisition.

Forefront Tech Holdings Acquisition Corp has launched as a SPAC, selling 10,000,000 units at $10.00 each for gross proceeds of $100,000,000. Each unit bundles one Class A ordinary share with half a redeemable warrant exercisable at $11.50 per share.

Additional sponsor and underwriter private placements contributed $3,550,000 and $150,000, respectively. The filing states that $103,700,000 has been placed in a trust account, to be used upon completion of an initial business combination or returned to public shareholders if no deal occurs within 24 months of the IPO closing.

The company intends to target technology businesses, emphasizing blockchain-enabled artificial intelligence, digital trade identities and robotics. Future filings will clarify any over-allotment exercise of up to 1,500,000 additional units and provide details once a specific acquisition candidate is identified.

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, and exhibit attachments filed with this report.
IPO size $100,000,000 gross proceeds 10,000,000 units at $10.00 per unit
Units offered 10,000,000 units Initial public offering
Warrant exercise price $11.50 per share Each whole redeemable warrant
Sponsor private placement 355,000 units for $3,550,000 Sold at $10.00 per unit to sponsor
Underwriter private placement 15,000 units for $150,000 Sold at $10.00 per unit to BTIG, LLC
Trust account funding $103,700,000 Proceeds from IPO and private placements
Over-allotment option 1,500,000 units 45-day underwriter option at IPO price
Business combination deadline 24 months From IPO closing to complete initial business combination
blank check company financial
"The Company is a blank check company incorporated as an exempted company under the laws of the Cayman Islands"
A blank check company is a publicly listed shell that raises money from investors before naming a specific business to buy or merge with, similar to handing a cashier a signed check and asking them to fill in the payee later. It matters to investors because it offers a faster, often cheaper path for private firms to become public, but carries extra risk since returns depend on the organizers’ ability to find a good deal and on limited information about the future business.
trust account financial
"A total of $103,700,000 of the proceeds from the IPO and the sale of the Private Placement Units were 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.
over-allotments financial
"The Company has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 units ... to cover over-allotments, if any."
An over-allotment is a temporary extra batch of shares that the underwriters of a stock offering are allowed to sell beyond the original amount, with the right to buy those shares back later. Think of it as spare tickets sold to meet demand and then reclaimed if needed to keep the market orderly; it helps stabilize the stock price after an offering and can affect short-term supply and potential dilution, which matters to investors tracking price and ownership stakes.
initial business combination financial
"which will seek to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination"
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.
forward-looking statements regulatory
"This press release includes “forward-looking statements,” including with respect to the Company’s initial public offering (“IPO”) and search for an initial business combination."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Registration Rights Agreement regulatory
"Registration Rights Agreement, dated April 29, 2026, by and among the Registrant, the Sponsor, BTIG, LLC and certain security holders"
A registration rights agreement is a contract that gives investors the option to have their ownership stakes officially registered with the government, making it easier to sell their shares later. This agreement matters because it provides investors with a clearer path to cash out their investments if they choose, offering more liquidity and confidence in their ability to sell their holdings when desired.
Understanding 8-K Material Events →

 

 

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

 

FORM 8-K

 

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. ☐

 

 

 

 

 

 

Item 1.01. Entry into a Material Definitive Agreement.

 

On May 1, 2026, Forefront Tech Holdings Acquisition Corp (the “Company”) consummated its initial public offering (“IPO”) of 10,000,000 units (the “Units”). Each Unit consists of one Class A ordinary share of the Company, par value $0.0001 per share (the “Class A Ordinary Shares”), and one-half of one redeemable warrant of the Company (each, a “Warrant”), with each whole Warrant entitling the holder thereof to purchase one Class A Ordinary Share for $11.50 per share. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $100,000,000.

 

In connection with the IPO, the Company entered into the following agreements, forms of which were previously filed as exhibits to the Company’s Registration Statements on Form S-1 (File No. 333-293592) for the IPO, originally filed with the U.S. Securities and Exchange Commission on February 19, 2026 (as amended, the “Registration Statement”):

  

  ● An Underwriting Agreement, dated April 29, 2026, by and between the Company and BTIG, LLC, as representative of the several underwriters, a copy of which is attached as Exhibit 1.1 hereto and incorporated herein by reference.

  

  ● A Warrant Agreement, dated April 29, 2026, by and between the Company and Odyssey Transfer and Trust Company, as warrant agent, a copy of which is attached as Exhibit 4.1 hereto and incorporated herein by reference.

  

  ● A Letter Agreement, dated April 29, 2026, by and among the Company, its officers, its directors and Next Lion Sponsor Holdings LLC (the “Sponsor”), a copy of which is attached as Exhibit 10.1 hereto and incorporated herein by reference.

  

  ● An Investment Management Trust Agreement, dated April 29, 2026, by and between the Company and Odyssey Transfer and Trust Company, as trustee, a copy of which is attached as Exhibit 10.2 hereto and incorporated herein by reference.

  

  ●  A Registration Rights Agreement, dated April 29, 2026, by and among the Company, the Sponsor, BTIG, LLC and  certain security holders, a copy of which is attached as Exhibit 10.3 hereto and incorporated herein by reference.

   

  ● A Private Placement Units Purchase Agreement, dated April 29, 2026, by and between the Company and the Sponsor, a copy of which is attached as Exhibit 10.4 hereto and incorporated herein by reference (the “Sponsor Private Placement Unit Agreement”).

 

  ●  A Private Placement Units Purchase Agreement, dated April 29, 2026, by and between the Company and BTIG, LLC, a copy of which is attached as Exhibit 10.5 hereto and incorporated herein by reference (the “Underwriter Private Placement Unit Agreement”).

 

  ● An Administrative Services Agreement, dated April 29, 2026, by and between the Company and Sponsor, a copy of which is attached as Exhibit 10.6 hereto and incorporated herein by reference.

 

  ● An Indemnity Agreement, dated April 29, 2026, by and between the Company and Peter Bilitsch, a copy of which is attached as Exhibit 10.7 hereto and incorporated herein by reference. 

 

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  ● An Indemnity Agreement, dated April 29, 2026, by and between the Company and Muk Siew Peng, a copy of which is attached as Exhibit 10.8 hereto and incorporated herein by reference. 
     
  ● An Indemnity Agreement, dated April 29, 2026, by and between the Company and Lee Chui Sum, a copy of which is attached as Exhibit 10.9 hereto and incorporated herein by reference. 
     
  ● An Indemnity Agreement, dated April 29, 2026, by and between the Company and Roderick Charles Stephan, a copy of which is attached as Exhibit 10.10 hereto and incorporated herein by reference.
     
  ● An Indemnity Agreement, dated April 29, 2026, by and between the Company and Vittorio Furlan, a copy of which is attached as Exhibit 10.11 hereto and incorporated herein by reference.

 

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 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 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 Warrants 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 $103,700,000 of the proceeds from the IPO and the sale of the Private Placement Units were placed in a U.S.-based trust account with Odysset 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 24 months from the closing of the IPO 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 24 months from the closing of the IPO, subject to applicable law.

 

On April 29, 2026, the Company issued a press release announcing the pricing of the IPO, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K.

 

On May 1, 2026, the Company issued a press release announcing the closing of the IPO, a copy of which is attached as Exhibit 99.2 to this Current Report on Form 8-K.

 

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Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

The following exhibits are being filed herewith:

 

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

 

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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: May 5, 2026

 

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Exhibit 99.1

 

Forefront Tech Holdings Acquisition Corp Announces Pricing of $100,000,000 Initial Public Offering

 

Grand Cayman, Cayman Islands, April 29, 2026 (GLOBE NEWSWIRE) -- Forefront Tech Holdings Acquisition Corp (the “Company”) announced today the pricing of its initial public offering of 10,000,000 units at $10.00 per unit. The units will be listed on The Nasdaq Global Market tier of The Nasdaq Stock Market LLC (“Nasdaq”) and begin trading on April 30, 2026, under the ticker symbol “FTHAU.” Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a 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 Nasdaq under the symbols “FTHA” and “FTHAW,” respectively. The offering is expected to close on May 1, 2026, subject to customary closing conditions. The Company has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 units at the initial public offering price to cover over-allotments, if any.

 

BTIG, LLC is acting as sole book-running manager for the offering.

 

Winston & Strawn LLP is serving as legal counsel to the Company. Loeb & Loeb LLP is serving as legal counsel to BTIG, LLC.

 

A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on April 29, 2026.The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from BTIG, LLC, Attention: 65 East 55th Street, New York, New York 10022, or by email at ProspectusDelivery@btig.com, or by accessing the SEC’s website, www.sec.gov.

 

This press release shall not constitute an offer to sell or a 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.

 

About Forefront Tech Holdings Acquisition Corp

 

The Company is a blank check company incorporated as an exempted company under the laws of the Cayman Islands, which will seek to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. While it may pursue an acquisition opportunity in any business, industry, sector or geographical location, it intends to focus on target businesses in the technology sector, with an emphasis on blockchain-enabled artificial intelligence, digital trade identities and robotics.

 

Forward-Looking Statements

 

This press release includes “forward-looking statements,” including with respect to the Company’s initial public offering (“IPO”) and search for an initial business combination. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. 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 Registration Statement and related preliminary prospectus filed in connection with the IPO with the SEC. Copies are available on the SEC's website, www.sec.gov.

 

Contact:

 

Forefront Tech Holdings Acquisition Corp
Suite 210, 2nd Floor, Windward III,
Regatta Office Park, PO Box 500
Grand Cayman, Cayman Islands, KY1-1106
Telephone: +1 (345) 769-4912

 

Exhibit 99.2

 

Forefront Tech Holdings Acquisition Corp Announces Closing of $100,000,000 Initial Public Offering

 

GRAND CAYMAN, Cayman Islands, May 01, 2026 (GLOBE NEWSWIRE) -- Forefront Tech Holdings Acquisition Corp (NASDAQ: FTHAU) (the “Company”) today announced that it closed its initial public offering (“IPO”) of 10,000,000 units at $10.00 per unit. The gross proceeds from the offering were $100 million before deducting underwriting discounts and estimated offering expenses. The units began trading on The Nasdaq Global Market tier of The Nasdaq Stock Market LLC (“Nasdaq”) under the ticker symbol “FTHAU” on April 30, 2026.

 

Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share of the Company at a price of $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “FTHA” and “FTHAW”, respectively. The Company has granted the underwriters a 45-day option to purchase up to 1,500,000 additional units at the IPO price to cover over-allotments, if any.

 

The Company intends to use the net proceeds from the offering, and the simultaneous private placements of units, to consummate the Company's initial business combination and for working capital following the offering.

 

BTIG, LLC acted as the sole book-running manager in the offering.
  
A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on April 29, 2026. The offering was made only by means of a prospectus, copies of which may be obtained from BTIG, LLC, Attn: Capital Markets, 65 East 55th Street, New York, New York 10022, or by email at ProspectusDelivery@btig.com, or from the SEC website at www.sec.gov.

 

This press release shall not constitute an offer to sell or a 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.

 

About Forefront Tech Holdings Acquisition Corp

 

The Company is a blank check company incorporated as an exempted company under the laws of the Cayman Islands, which will seek to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. While it may pursue an acquisition opportunity in any business, industry, sector or geographical location, it intends to focus on target businesses in the technology sector, with an emphasis on blockchain-enabled artificial intelligence, digital trade identities and robotics.

 

Forward-Looking Statements

 

This press release includes forward-looking statements that involve risks and uncertainties, including with respect to the IPO, the anticipated use of the net proceeds thereof and the Company's search for an initial business combination. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. 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 Registration Statement and related prospectus filed in connection with the IPO with the SEC. Copies are available on the SEC’s website, www.sec.gov.

 

Contact:

 

Forefront Tech Holdings Acquisition Corp
Suite 210, 2nd Floor, Windward III,
Regatta Office Park, PO Box 500
Grand Cayman, Cayman Islands, KY1-1106
Telephone: +1 (345) 769-4912

 

Source: View Original Filing on SEC EDGAR

FAQ

What did Forefront Tech Holdings Acquisition Corp (FTHAU) raise in its IPO?

Forefront Tech Holdings Acquisition Corp raised $100,000,000 in gross proceeds by selling 10,000,000 units at $10.00 per unit. Each unit includes one Class A ordinary share and one-half of one redeemable warrant exercisable at $11.50 per share.

How much capital from FTHAU’s IPO and private placements went into the trust account?

The company deposited $103,700,000 of proceeds from the IPO and private placement units into a U.S.-based trust account. These funds remain in trust until a business combination, certain shareholder redemptions, or liquidation if no deal occurs within 24 months of the IPO closing.

What private placement units did FTHAU issue alongside the IPO?

Simultaneously with the IPO, the company sold 355,000 sponsor private placement units for $3,550,000 and 15,000 underwriter private placement units for $150,000. These units were priced at $10.00 each and issued under Section 4(a)(2) registration exemptions.

What types of businesses does Forefront Tech Holdings Acquisition Corp plan to target?

The company is a blank check entity aiming to complete a business combination in the technology sector. It intends to focus on businesses involved in blockchain-enabled artificial intelligence, digital trade identities, and robotics, though it may consider other sectors or locations.

What are the key terms of FTHAU’s public warrants issued in the IPO units?

Each whole warrant from the IPO units entitles the holder to purchase one Class A ordinary share at an exercise price of $11.50 per share. No fractional warrants will be issued, and only whole warrants will trade separately once the units split.

What over-allotment option did FTHAU grant to its underwriters?

The company granted the underwriters a 45-day option to purchase up to 1,500,000 additional units at the initial public offering price. This option is intended to cover over-allotments in connection with the IPO, if any occur.

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