FTHAU · Forefront Tech Holdings Acquisition Corp.

Forefront Tech Holdings Acquisition Corp, a Cayman Islands blank check company formed in 2025, successfully closed its initial public offering on May 1, 2026, marking a key milestone for pursuing a business combination, primarily in the technology sector. The IPO involved 10,000,000 public units sold at $10.00 each, yielding $100 million in gross proceeds, with each unit comprising one Class A ordinary share (par value $0.0001) and one-half redeemable warrant exercisable at $11.50 per share. Concurrently, the company sold 370,000 private placement units at the same price to its sponsor Next Lion Sponsor Holdings LLC (355,000 units) and BTIG, LLC (15,000 units), adding $3.7 million. Total offering proceeds of $103.7 million funded a $100.3 million trust account deposit at $10.03 per unit, providing liquidity for a future merger, share exchange, or asset acquisition meeting specific fair market value thresholds (at least 80% of trust net assets) and control requirements. The audited balance sheet as of May 1, 2026, reflects $101.7 million in total assets, primarily trust cash, offset by $3.2 million liabilities including $3 million deferred underwriting fees, and a $1.8 million shareholders' deficit from formation costs. Transaction expenses totaled nearly $5 million. Investors benefit from redemption rights upon business combination or within the 18-month completion window, with sponsor shares waiving such rights. This positions the company to deploy capital toward a target without current operations, generating trust interest income until a deal materializes.