FutureCorp Space Acquisition 1 director and CEO/CFO Joshua Marks filed an initial ownership report showing an indirect interest in 5,750,000 Class B ordinary shares. These Class B shares are held by the sponsor entity, FutureCorp Space Acquisition 1 LLC, and were acquired under a subscription agreement with the issuer.
The Class B ordinary shares are described as founder shares that automatically convert into Class A ordinary shares on a one-for-one basis at the time of the issuer’s initial business combination, or earlier at the holder’s option, subject to adjustments. Up to 750,000 of these shares are subject to forfeiture if the underwriters’ over-allotment option is not fully exercised. Footnotes explain that the sponsor is controlled through Pubco Acquisition Corp LLC and FutureCorp LLC, and that Joshua Marks and another member may be deemed to have beneficial ownership of the sponsor’s shares, while each disclaims beneficial ownership beyond any pecuniary interest.
FutureCorp Space Acquisition 1 filed an initial Form 3 for General Counsel Matthew A. Long, identifying him as an officer of the company. The filing’s data show no reportable transactions or derivative positions and no buy or sell activity at the time of this initial statement.