Company: FCRS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110990
Chunk: 48

Company: FutureCrest Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 48
---
 share at a price of $11.50 per share, subject to adjustment.
Each warrant will become exercisable 30 days after the completion of the initial Business Combination and will expire five years
after the completion of the initial Business Combination, or earlier upon redemption or liquidation.

The Company’s Sponsor is FutureCrest Acquisition
Sponsor LLC (the “Sponsor”). Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale
of an aggregate of 3,500,000 Private Placement Warrants (whether or not the underwriters’ over-allotment option is exercised in
full) (the “Private Placement Warrants”) to the Sponsor and Cantor Fitzgerald & Co., the representative of the underwriters
of the Initial Public Offering, at a price of $2.00 per warrant, or $7,000,000 in the aggregate, in a private placement. Of those 3,500,000
Private Placement Warrants, the Sponsor purchased 2,250,000 Private Placement Warrants and Cantor Fitzgerald & Co. purchased
1,250,000 Private Placement Warrants. The Company’s management has broad discretion with respect to the specific application of
the net proceeds of the Initial Public Offering and the Private Placement Warrants, although substantially all of the net proceeds are
intended to be generally applied toward consummating a Business Combination (less deferred underwriting commissions).

Transaction costs amounted to $17,861,874, consisting
of $5,000,000 of cash underwriting fee, $12,250,000 of deferred underwriting fee, and $611,874 of other offering costs.

The Company’s Business Combination must
be with one or more target businesses that together have a fair market value equal to at least 80% of the net balance in the Trust Account
(as defined below) (net of amounts disbursed to management for working capital purposes, if permitted, and excluding the amount of any
deferred underwriting discount held in trust) at the time of the signing an agreement to enter into a Business Combination. However, the
Company will only complete a Business Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding
voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register
as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act