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FutureCorp Space Acquisition 1 (FTRA-UN) director reports 5.75M Class B founder shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
3

Rhea-AI Filing Summary

FutureCorp Space Acquisition 1 director Sudhin R. Shahani filed an initial Form 3 reporting indirect beneficial ownership of 5,750,000 Class B ordinary shares. These Class B shares will automatically convert into Class A ordinary shares on a one-for-one basis at the time of the company’s initial business combination or earlier at the holder’s option, and have no expiration date.

The shares are held by FutureCorp Space Acquisition 1 LLC, the sponsor, and include up to 750,000 shares that may be forfeited if the underwriters’ over-allotment option is not fully exercised. The ownership is indirect through a chain of entities, and Shahani, along with another manager, may be deemed to have beneficial ownership but each disclaims ownership beyond their pecuniary interest.

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Insider Shahani Sudhin
Role null
Type Security Shares Price Value
holding Class B ordinary shares -- -- --
Holdings After Transaction: Class B ordinary shares — 5,750,000 shares (Indirect, See Footnote)
Footnotes (1)
  1. As described in the registration statement on Form S-1 (File No. 333-296040) of FutureCorp Space Acquisition 1 (the "Issuer") under the heading "Description of Securities--Founder Shares," the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments. The Class B ordinary shares have no expiration date. These Class B ordinary shares are held by FutureCorp Space Acquisition 1 LLC (the "Sponsor") and were acquired pursuant to a subscription agreement by and between the Sponsor and the Issuer. The Class B ordinary shares owned by the Sponsor includes up to 750,000 shares that are subject to forfeiture to the extent that the underwriters' over-allotment option is not exercised in full, as described in the Issuer's registration statement. Pubco Acquisition Corp LLC ("PAC") is the sole managing member of the Sponsor. PAC's managing member is FutureCorp LLC. Sudhin R. Shahani and Joshua B. Marks are members of FutureCorp LLC. All investment decisions for FutureCorp LLC are made by Mr. Shahani and Mr. Marks, and as such, each of Messrs. Shahani and Marks may be deemed to have beneficial ownership of the Class B ordinary shares held of record by the Sponsor. Each of Messrs. Shahani and Marks disclaims any beneficial ownership of the reported shares other than to the extent of their pecuniary interest therein.
Indirect Class B holdings 5,750,000 shares Class B ordinary shares reported on Form 3
Subject to forfeiture 750,000 shares Portion of sponsor Class B shares tied to over-allotment
Conversion ratio 1:1 Class B ordinary shares into Class A ordinary shares
Exercise price $0.0000 per share Conversion-related exercise price shown in data
Class B ordinary shares financial
"the Class B ordinary shares will automatically convert into Class A ordinary shares"
Class B ordinary shares are a type of ownership stake in a company that typically come with different voting rights or privileges compared to other share classes. For investors, they represent a way to hold part of the company’s value and influence its decisions, often with fewer voting rights than Class A shares. Understanding these shares helps investors assess their level of control and potential returns within a company.
initial business combination financial
"will automatically convert into Class A ordinary shares at the time of the Issuer's initial 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.
over-allotment option financial
"subject to forfeiture to the extent that the underwriters' over-allotment option is not exercised in full"
An over-allotment option is a special agreement that allows underwriters to sell more shares than initially planned if demand is high. Think of it like a retailer offering extra units of a popular product to meet additional customer interest. This option helps ensure the full sale is completed and can also give investors extra shares if they want more.
beneficial ownership financial
"may be deemed to have beneficial ownership of the Class B ordinary shares held of record by the Sponsor"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims any beneficial ownership of the reported shares other than to the extent of their pecuniary interest therein"
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SEC Form 3
FORM 3UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0104
Estimated average burden
hours per response:0.5
1. Name and Address of Reporting Person*
Shahani Sudhin
(Last)(First)(Middle)
C/O FUTURECORP SPACE ACQUISITION 1
8605 SANTA MONICA BLVD, #54207
(Street)
LOS ANGELES CALIFORNIA 90069
(City)(State)(Zip)
UNITED STATES
(Country)		2. Date of Event Requiring Statement (Month/Day/Year)
06/04/2026		3. Issuer Name and Ticker or Trading Symbol
FutureCorp Space Acquisition 1 [ FTRA ]
3a. Foreign Trading Symbol
5. If Amendment, Date of Original Filed (Month/Day/Year)
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year)3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date ExercisableExpiration DateTitleAmount or Number of Shares
Class B ordinary shares (1) (1)Class A ordinary shares5,750,000(2)(3)(1)ISee Footnote(3)
Explanation of Responses:
1. As described in the registration statement on Form S-1 (File No. 333-296040) of FutureCorp Space Acquisition 1 (the "Issuer") under the heading "Description of Securities--Founder Shares," the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments. The Class B ordinary shares have no expiration date.
2. These Class B ordinary shares are held by FutureCorp Space Acquisition 1 LLC (the "Sponsor") and were acquired pursuant to a subscription agreement by and between the Sponsor and the Issuer. The Class B ordinary shares owned by the Sponsor includes up to 750,000 shares that are subject to forfeiture to the extent that the underwriters' over-allotment option is not exercised in full, as described in the Issuer's registration statement.
3. Pubco Acquisition Corp LLC ("PAC") is the sole managing member of the Sponsor. PAC's managing member is FutureCorp LLC. Sudhin R. Shahani and Joshua B. Marks are members of FutureCorp LLC. All investment decisions for FutureCorp LLC are made by Mr. Shahani and Mr. Marks, and as such, each of Messrs. Shahani and Marks may be deemed to have beneficial ownership of the Class B ordinary shares held of record by the Sponsor. Each of Messrs. Shahani and Marks disclaims any beneficial ownership of the reported shares other than to the extent of their pecuniary interest therein.
By: /s/ Sudhin Shahani06/04/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Sudhin Shahani report on his Form 3 for FTRA-UN?

Sudhin R. Shahani reported indirect beneficial ownership of 5,750,000 Class B ordinary shares of FutureCorp Space Acquisition 1. The shares are held through the sponsor entity and relate to founder shares that convert into Class A shares on a one-for-one basis.

How do FutureCorp Space Acquisition 1 Class B shares convert into Class A shares?

The Class B ordinary shares automatically convert into Class A ordinary shares at the time of FutureCorp Space Acquisition 1’s initial business combination, or earlier at the holder’s option, on a one-for-one basis, subject to certain adjustments described in the registration statement.

Who actually holds the 5,750,000 Class B shares reported by Shahani at FTRA-UN?

The 5,750,000 Class B ordinary shares are held by FutureCorp Space Acquisition 1 LLC, the sponsor. Shahani’s interest is indirect through Pubco Acquisition Corp LLC and FutureCorp LLC, and he may be deemed a beneficial owner only to the extent of his pecuniary interest.

Are any of Shahani’s reported founder shares for FutureCorp Space Acquisition 1 subject to forfeiture?

Yes. The Class B ordinary shares held by the sponsor include up to 750,000 shares that are subject to forfeiture if the underwriters’ over-allotment option is not exercised in full, as described in the company’s registration statement on Form S-1.

Do the Class B ordinary shares reported by Shahani at FTRA-UN have an expiration date?

The filing states that the Class B ordinary shares have no expiration date. They remain outstanding until they convert into Class A ordinary shares, either automatically at the initial business combination or earlier at the option of the holder.

What does it mean that Sudhin Shahani disclaims beneficial ownership of the FTRA-UN shares?

Shahani may be deemed to beneficially own the sponsor’s Class B shares because he helps make investment decisions, but he disclaims beneficial ownership except to the extent of his pecuniary interest. This limits how much of the position he treats as economically his.