FMAC · Future Money Acquisition Corp

Summary

Future Money Acquisition Corporation is a blank check company incorporated in the Cayman Islands on September 29, 2025, formed to effect a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses, referred to as its 'initial business combination.' The company has not selected any specific target and has not engaged in substantive discussions with any potential targets. While it may pursue targets in any industry or geography, it intends to focus on artificial intelligence ('AI'), Web3 (decentralized technologies and applications built on blockchain), or intelligent manufacturing industries. The management team includes Siyu Li, CEO and Chairman with expertise in cryptocurrency and fintech investments, and Steven Markscheid, CFO with extensive SPAC and public company board experience. The company is offering 10,000,000 units at $10.00 each, consisting of one ordinary share and one right to receive one-tenth of an ordinary share upon consummation of an initial business combination. Net proceeds of approximately $100 million will be deposited into a U.S.-based trust account at Citibank, N.A., invested in U.S. government treasury obligations or money market funds. The sponsor, Future Wealth Capital Corp., holds 3,833,333 founder shares purchased for $25,000 and will purchase 233,000 private units for $2,330,000. The company has up to 18 months (extendable to 24 months) to complete an initial business combination, after which it will liquidate and redeem public shares if unsuccessful. Investors face high risks typical of SPACs, including dilution from founder shares and potential conflicts of interest.

Key takeaways

• Blank check company incorporated September 29, 2025 in Cayman Islands targeting AI, Web3, or intelligent manufacturing for initial business combination.
• Offering 10,000,000 units at $10.00 each, generating $100 million for trust account; underwriters have 45-day over-allotment option for 1,500,000 additional units.
• Sponsor Future Wealth Capital Corp. holds 3,833,333 founder shares purchased for $25,000 (up to 500,000 subject to forfeiture) and will buy 233,000 private units for $2,330,000.
• 18-month completion window (extendable to 24 months via six one-month extensions requiring $330,000 deposits per extension) to complete business combination or liquidate.
• Net tangible book value per share as of October 31, 2025 was $(0.02); post-offering dilution to public shareholders ranges from 31.2% (no redemption) to 98.7% (maximum redemption).
• Management includes Siyu Li (CEO/Chairman, Forbes Asia 30 Under 30) and Steven Markscheid (CFO, director of multiple Nasdaq SPACs).
• No revenues or operations to date; $40,000 deferred offering costs and $64,487 sponsor loan outstanding as of October 31, 2025.