Future Money Acquisition Corporation, a special purpose acquisition company (SPAC), has completed its initial public offering, raising $112,000,000, according to a filing with the U.S. Securities and Exchange Commission. The offering included the partial exercise of the underwriters' overallotment option.
The SPAC, which is led by Chairman and CEO David Chen, offered 11,200,000 units at a price of $10.00 per unit. Each unit consists of one share of Class A ordinary stock and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of Class A ordinary stock at $11.50 per share.
The company's securities began trading on the Nasdaq Capital Market under the ticker symbol "FMACU" on March 27, 2026. The offering closed on March 31, 2026. The gross proceeds are intended to be used for the company's initial business combination, though a target has not yet been identified.
EF Hutton, division of Benchmark Investments, LLC, acted as the sole book-running manager for the offering. A registration statement relating to these securities was declared effective by the SEC on March 26, 2026.
