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FortuneX cuts agreed merger equity value to $525M

The revised consideration is a fixed share count, with no cash, debt, working-capital, purchase-price, escrow or holdback adjustments.

(Moderate)

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Form Type
8-K

Rhea-AI Filing Summary

FortuneX Acquisition Corp amended its business combination agreement with WT Realty Group Inc. and FortuneX Merger Sub Inc. on October 13, 2026, reducing the aggregate merger consideration payable to WT Realty Group Inc. stockholders from 60,000,000 shares of PubCo Common Stock, representing an agreed equity value of $600,000,000, to 52,500,000 shares, representing an agreed equity value of $525,000,000 at a reference price of $10.00 per share.

The consideration remains a fixed number of shares and is not subject to adjustments for cash, indebtedness, net debt, working capital or similar items, or to a purchase price adjustment, escrow or holdback. The business combination agreement otherwise remains in effect according to its terms.

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 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Amended aggregate merger consideration 52,500,000 shares Payable to WT Realty Group Inc. stockholders
Amended agreed equity value $525,000,000 Value represented by the amended share consideration
Reference price $10.00 per share Used to determine the amended share consideration
Previous aggregate merger consideration 60,000,000 shares Amount before the October 13, 2026 amendment
Previous agreed equity value $600,000,000 Value represented by the previous share consideration
Aggregate Merger Consideration financial
"amend and restate in its entirety the definition of “Aggregate Merger Consideration”"
PubCo Common Stock financial
"52,500,000 shares of PubCo Common Stock"
net debt financial
"cash, indebtedness, net debt, working capital"
Net debt is the total amount a company owes after subtracting the cash and assets it has that can be used to pay off that debt. It shows how much debt is truly a burden, helping investors understand if a company is financially healthy or heavily borrowed. Think of it like calculating how much money you owe after using your savings to pay part of it.
purchase price adjustment financial
"nor to any purchase price adjustment, escrow or holdback"
holdback financial
"escrow or holdback"

FAQ

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

How many shares will WT Realty Group stockholders receive in the FXAC business combination?

The amended aggregate merger consideration is 52,500,000 shares of PubCo Common Stock for WT Realty Group Inc. stockholders. The agreement sets the share count using an agreed equity value of $525,000,000 and a reference price of $10.00 per share.

What changed in FXAC's amended business combination agreement?

The amendment reduced the aggregate merger consideration from 60,000,000 shares, representing an agreed equity value of $600,000,000, to 52,500,000 shares, representing an agreed equity value of $525,000,000. The revised consideration remains a fixed number of shares.

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

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or Section 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): October 13, 2026

 

October 12, 2026

FortuneX Acquisition Corporation

(Exact name of registrant as specified in its charter)

 

Cayman Islands   001-43307  
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (IRS Employer
Identification No.)

 

1185 Avenue of the Americas, Suite 349
New York
, NY

  10036
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (212) 574-4425

 

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 to 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 exchange on which registered

Units, each consisting of one ordinary share, and one-half of one warrant

  FXACU   The Nasdaq Stock Market LLC
Ordinary shares, par value $0.0001   FXAC   The Nasdaq Stock Market LLC

Warrants, each exercisable for one ordinary share at an exercise price of $11.50 per share

  FXACW   The 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.

 

Amendment to Business Combination Agreement

 

As previously disclosed, on September 18, 2026, FortuneX Acquisition Corporation, a Cayman Islands exempted company (“FortuneX”), entered into a Business Combination Agreement (the “Business Combination Agreement”) with WT Realty Group Inc., a Delaware corporation (the “Company”), and FortuneX Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of FortuneX (“Merger Sub”).

 

On October 13, 2026, FortuneX, the Company and Merger Sub entered into a First Amendment to Business Combination Agreement (the “Amendment”). Pursuant to the Amendment, the parties agreed to amend and restate in its entirety the definition of “Aggregate Merger Consideration” in Section 1.1 of the Business Combination Agreement to reduce the aggregate merger consideration payable to the Company’s stockholders from 60,000,000 shares of PubCo Common Stock, representing an agreed equity value of $600,000,000, to 52,500,000 shares of PubCo Common Stock, being the number of shares equal to the agreed equity value of the Company of $525,000,000 divided by the reference price of $10.00 per share. The Aggregate Merger Consideration remains a fixed number of shares and is not subject to any adjustment for cash, indebtedness, net debt, working capital or any similar item, whether before or after the date of the Amendment, nor to any purchase price adjustment, escrow or holdback. Except as expressly amended by the Amendment, the Business Combination Agreement remains in full force and effect in accordance with its terms.

 

A copy of the Amendment is filed with this Current Report on Form 8-K as Exhibit 2.1 and is incorporated herein by reference. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
2.1   First Amendment to Business Combination Agreement, dated October 13, 2026, by and among FortuneX Acquisition Corporation, WT Realty Group Inc. and FortuneX Merger Sub Inc.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

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.

 

  FortuneX Acquisition Corporation
   
Date: October 14, 2026 By: /s/ Daniel M. McCabe
  Name: Daniel M. McCabe
  Title: Chief Executive Officer

 

2

Filing Exhibits & Attachments

5 documents

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