Future Money Acquisition Corporation, a Cayman Islands-incorporated blank-check company, has completed its initial public offering, selling 11.2 million units at $10.00 each and raising $112 million in gross proceeds before underwriting discounts and expenses, the company said in a statement.
The offering included a partial exercise of the underwriters' overallotment option, which added 1.2 million units to the total. The companys units started trading on the Nasdaq Global Market on March 27, 2026 under the symbol "FMACU."
Each unit comprises one ordinary share and one right that entitles the holder to receive one-fifth of an ordinary share upon the closing of an initial business combination. The ordinary shares and the rights are expected to commence separate trading under the symbols "FMAC" and "FMACR," respectively, once they begin to trade independently.
At the same time as the IPO closing, Future Money Acquisition completed a private placement of 304,000 units at $10.00 per unit, which produced an additional $3.04 million in gross proceeds. According to the company, the privately placed units are identical to the IPO units except for certain limited exceptions.
Following the closings of the public offering and the private placement, the company deposited $112.56 million - equivalent to $10.05 per unit - of net proceeds into a trust account managed by Equiniti Trust Company, LLC as of March 30, 2026.
Future Money Acquisition is structured as a blank-check company with a mandate to pursue a business combination with one or more target businesses without geographic or industry limitations. The company's sponsor is Future Wealth Capital Corp., a British Virgin Islands entity that is ultimately owned by Siyu Li.
D. Boral Capital served as the sole book-running manager for the offering. The company's registration statement filed with the U.S. Securities and Exchange Commission became effective on March 26, 2026.
Summary of key financing points
- Public offering: 11.2 million units at $10.00 per unit, raising $112 million in gross proceeds before underwriting discounts and expenses.
- Overallotment: Partial exercise for 1.2 million additional units included in the offering.
- Private placement: 304,000 units at $10.00 per unit generating $3.04 million of gross proceeds.
- Trust deposit: $112.56 million of net proceeds deposited with Equiniti Trust Company, LLC as of March 30, 2026.
This transaction leaves Future Money Acquisition positioned to seek an initial business combination in line with its stated mandate. The companys securities currently trade as units under FMACU on Nasdaq and are expected to split into ordinary shares and rights under the tickers FMAC and FMACR when separate trading begins.